Yuritopiaposadism [none/use name] to [email protected]English • 1 year ago"We see people are going to want to leave to go make $20 an hour."hexbear.netimagemessage-square68fedilinkarrow-up1176
arrow-up1176image"We see people are going to want to leave to go make $20 an hour."hexbear.netYuritopiaposadism [none/use name] to [email protected]English • 1 year agomessage-square68fedilink
https://www.businessinsider.com/california-fast-food-20-minimum-wage-restaurant-raise-pay-compete-2024-4
minus-square@[email protected]linkfedilinkEnglish26•1 year agoIt’s been 7.25 since 2009. From a quick google it says rent increases (what actually matters to minimum wage employees, not CPI) have outpaced inflation at about 9% increase per year. So, going with that, 7.25(1.09)^15 is about $26.41.
minus-squareProletarianDictator [none/use name]linkfedilinkEnglish2•edit-21 year agoYou need to add that 9% to the average rate of inflation, so this should actually be higher. Edit: 7.25(1 + .02 + .09)^15 = 30.28 Edit: Misread
It’s been 7.25 since 2009. From a quick google it says rent increases (what actually matters to minimum wage employees, not CPI) have outpaced inflation at about 9% increase per year. So, going with that, 7.25(1.09)^15 is about $26.41.
You need to add that 9% to the average rate of inflation, so this should actually be higher.
Edit: 7.25(1 + .02 + .09)^15 = 30.28 Edit: Misread