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In reply to the discussion: Chipotle raises menu prices to offset employee wages [View all]Bucky
(54,003 posts)15. As an economics teacher, it bothers me that this comes as news to people
It's a basic thing I cover in all my classes. Recoveries are by nature inflationary. But the cost increases aren't all on labor. Capital costs (equipment, transportation, facilities, and servicing bank loans for expanding operations) and the cost of rising food prices are also calculated into that 4% price hike.
For the last 5 to 6 years, retail employers have been feeling like they're fat cats by offering eight or nine dollars an hour for line workers. But the cost of living has gone up a lot more than 16% median wage increase since the last hike in minimum wage.
You have to legislatively boost that minimum wage over the next 6 years. Housing costs alone are killing the working class
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In that case, you think there are less wealthy people filling up the NYC restaurants.
brooklynite
Jun 2021
#52
Restaurants have had a tough time. If people don't want to pay an additional 4%,
pnwmom
Jun 2021
#69
No working family is forced to go to any restaurant that raises its prices so its workers
pnwmom
Jun 2021
#70
Yup, god forbid if they don't make their profit quota for the investors... Oh the shame!!😂
mitch96
Jun 2021
#44
I think most people would be willing to pay a little more to benefit those serving them.
olegramps
Jun 2021
#82
So... a 25 to 50% increase in employee wages equates to a 4% increase in menu price?
enki23
Jun 2021
#3
One thing that killed me was starting wage at a job I had for 10 years, in 2009 was...
Humanist_Activist
Jun 2021
#63
The fact is price of these foods was going up even before any increase in employee wages
JI7
Jun 2021
#8
Makes me feel a little better about eating there if they pay that amount to their workers.
mucifer
Jun 2021
#14
I'll gladly pay an additional 30-40 cents so that employees can make a livable wage.
Bleacher Creature
Jun 2021
#22
Ours has very limited hours on days when they're open, and the hours are irregular.
badhair77
Jun 2021
#23
Dear me. . .he can't get by if it's multi-multi million salary and bonuses are only multi-millions
AZLD4Candidate
Jun 2021
#30
I've eaten there once, eight years ago. I thought it was over priced garbage and
Autumn
Jun 2021
#37
A business that can't pay its living wage is a failed business. Full stop, no exceptions.
Orrex
Jun 2021
#59
I'd say that this is a good reason for slightly reducing the shareholder's profits
Orrex
Jun 2021
#74
I was always lucky - I knew what I was doing and I owned a good tux. The $2.13/hr I got ...
marble falls
Jun 2021
#90