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It’s what most of us expect to make when we enter the working world. Minimum wage. Currently at $ 9 an hour in most California cities including Fresno. Slated to rise to $ 10 statewide in January. But if Fresno follows in the footsteps of Los Angeles, minimum wage could rise even more.
Craig Scharton is the owner of Peeves Public House, a restaurant in downtown Fresno. He hires primarily students– many part-time. Yet their wages account for a big chunk of his costs. Scharton says, "
Employee costs are 45 percent of our expenditures. If that goes up. If it went from 9 to 15. I would take a gigantic hit."
All eyes will definitely be on Los Angeles to see how this new minimum wage hike plays out. And it’s not the first city to do so. Seattle and San Francisco have raised their minimum wage. Last year Chicago passed a phased in wage hike to $ 13 an hour.
But financial experts are concerned about the long term effects.
He say, "Companies will leave the area if they can’t find a way around it. They will quickly find the technology to hire fewer people and they’ll make the cuts in other places and or raise the prices."
Business owners agree and warn of what they see as a possible result. Craig Scharton says, "W
hen people have asked me about this i’ve said how would you feel about having a nineteen dollar hamburger?"
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