How raising the minimum wage costs jobs
When you force a company to increase the minimum wage their profits and operational plans are immediately changed. In that moment they have 2 options, accept the shift in their business and slow growth or find a way to replace the lost margins through other cuts. The cuts that inevitably come are additional benefits to staff and a reduction in the size of staff. Forcing people to work longer shifts, more hours in a week to keep their job and eliminating overtime pay while requiring more than 40 hours per week. Raising the minimum wage makes for a good headline, but it doesn’t solve a problem, it creates many more.