General Discussion
In reply to the discussion: Let's pay 16 year olds $31.2k to sweep floors!!!! [View all]Glassunion
(10,201 posts)However, close to 40, does not equal 40-60%.
That said, even if you do raise the MW to $15, you are not going to negate the effects of a living wage.
Let's use the highest percentage from one of your links (30 to 35%)... We will go with the high water mark of 35%.
Now there are many questions to answer.
How many employees in these places are making less than $15 an hour.
What percentage of the total number of employees is that?
How many are full-time or part-time?
What percentage of your labor includes static or sliding scale costs? (disability insurance, worker's comp, etc..)
So in your average restaurant, your wages are not going to double. You'd need to find exact financials on a particular business to determine the exact retail increases needed to cover the cost of raising the minimum wage. But, in the end only a percentage of the 35% of operating costs will be effected.