California's dramatic fast food wage hike may have backfired, according to a new economic study – wiping out an estimated 18,000 jobs across the state in just one year.
The research, published this month by the National Bureau of Economic Research (NBER), analyzed the impact of Assembly Bill 1228, which mandated a $20 hourly
minimum wage for fast food workers at large chains starting April 1, 2024.
According to the economists behind the study, fast food employment in California dropped by 3.2 percent, while jobs in the same sector grew slightly across the rest of the U.S.
California's fast food wage law was meant to boost pay - but a new study says it wiped out 18,000 jobs in under a year, sparking a fierce political backlash.
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Not surprised.