On Main Street, it's time to prepare for the new state minimum wage hikes in 2024
Publishing timestamp: 2023-11-11 08:57:10
Summary
Minimum wage hikes are coming to several U.S. states in 2024, with California targeting fast-food companies to pay at least $20 per hour. Small businesses may struggle to cope with the increased costs and may have to make adjustments such as reducing benefits, staffing levels, or raising prices. Wage growth is still happening in the labor market, but businesses need to carefully manage the impact on their bottom line.
Sentiment: MIXED
Keywords: mcdonald's corp, small business, nebraska, hawaii, small business financing, minimum wage, california, business news, maryland, fast food restaurant operators, business, chipotle mexican grill inc, business owner, west virginia, salary and benefits, labor issues, delaware,