CKE Restaurants CEO and JCN member Andy Puzder says early research on minimum wage mandates indicates the unintended consequences of this government overreach is beginning to take shape.
Several places around the country are dabbling in the great experiment – a $15 minimum wage.
How’s that working out so far?
CKE Restaurants CEO and JCN member Andy Puzder took a look at some of the early research in some of the nation’s largest cities that have enacted mandatory minimum wage increases. Unfortunately, it appears as if many of the unintended consequences of this type of government overreach is beginning to take shape.
With some three thousand Hardee’s and Carl’s Jr. restaurants on the map, Puzder knows first hand how these mandates impact the small business owners who work under his purview and more importantly, those employees and their families. His reaction was noted in two media outlets – an op-ed in the Wall Street Journal and an article in a Middletown, NY outlet called the Times Herald Record Online.
Puzder recapped both news mentions in his latest blog post, titled, “Permanent Link to Initial research shows minimum wage increases lead to job losses, imperiling economic fortunes of employees dependent on entry level jobs.”
In the Wall Street Journal, Puzder summarized that minimum wage increases in Los Angeles, San Francisco and Seattle “have cost thousands of jobs as employers use labor more efficiently and turn to automation.”
In the second news piece, Puzder declared New York state’s government recommendation to raise the minimum wage for fast food restaurants only “punishes the franchise sector which lifts people from the working class to the middle class.”
Job Creators Network concurs with Puzder, who concludes minimum wage increases only strip Americans of economic freedom to get a start on that workplace ladder. And the more economic freedom we have, the greater the chance to lift American families out of poverty.