Several states in the country have increased the salaries of their residents till now in 2024. For example, in California, the year began with significant changes in terms of the aforementioned monthly income.
In January the base salary increased from $15.50 USD per hour to exactly $16.00 USD per hour worked. However, significant change in this aspect is still expected.
Who will benefit from it?
Employees of major fast food chains serving California will directly benefit.
Certainly, this salary adjustment is planned for April this year. Then, these workers will earn $20.00 USD per hour, a monthly salary that isn’t incredible compared to previous years’ salaries.
Increase in costs
It is estimated that the above salary increase will cause a domino effect for employees of large fast food chains. because? This will start a wave of pay hikes in other service sectors.
The newspaper took up the subject San Diego Union-Tribune. “It is likely to have an impact on a number of consumer prices, from the cost of dining out to maintaining your garden.”
Daniel Animark, The chief economist of the San Diego Center for Regional Policy and Innovation also presented his opinion to the media.
“The new minimum wage in an industry like fast food will become the de facto minimum wage, the lowest in the economy and with lower training and experience requirements.”
The expert added that “it becomes an option for someone with a salary of less than $20.00 USD because they know they can earn more in fast food.
So it will be very difficult for employers to recruit workers for positions that offer less than $20.00 USD per hour.
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