Thousands of lower wage workers are calling the minimum wage hike a victory, but it’s not all good news for a lot of businesses.
Raising the wage is going to impact each business differently. Some will certainly feel the pain more than others. And so could consumers.
Nonprofits and seasonal businesses that depend on minimum wage workers will be forced to make some hard decisions after the legislature passed a bill overnight raising the minimum wage.
Garrett Sheehan, President of the Chamber representing some 1,500 businesses in the greater New Haven area says some businesses will be forced to pass those increased costs on to consumers.
Others would be forced to cut jobs.
Sheehan said, “When you start increasing salaries at the lowest level, eventually that’s going to work its way up and increase the overall cost of doing business.”
The bill raises the minimum wage from $10.10 to $15 over four years, but Sheehan said that’s not the only issue on the table this legislative session that’s bad for business owners.
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A paid family leave bill would have tough financial consequences as well.
Sheehan added, “Ask legislators that as they consider these types of legislation think about the impact on their businesses and what is that going to do. What’s the message that’s going to send to the entire business community not just here in this state but to the entire country as we try to attract more businesses here.”
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