Small Businesses Struggle With $15 Minimum Wage Hike in NY: 'They're Shutting Down'
EXCERPT: According to a report published Monday by the Wall Street Journal, many business leaders and owners in the Big Apple have said that they are having to cut hours, raise prices, and reduce staff in their businesses due to the rising labor costs that they say come from the recent city law bumping up the minimum wage. . . .
The president of the Queens Chamber of Commerce, Thomas Grech, told the Wall Street Journal that he has seen an increased number of small businesses closing in the last six to nine months. He believes the rising closures are due to the minimum wage legislation.
“They’re cutting their staff. They’re cutting their hours. They’re shutting down,” Grech said. “It’s not just the rent.”
EXCERPT: According to a report published Monday by the Wall Street Journal, many business leaders and owners in the Big Apple have said that they are having to cut hours, raise prices, and reduce staff in their businesses due to the rising labor costs that they say come from the recent city law bumping up the minimum wage. . . .
The president of the Queens Chamber of Commerce, Thomas Grech, told the Wall Street Journal that he has seen an increased number of small businesses closing in the last six to nine months. He believes the rising closures are due to the minimum wage legislation.
“They’re cutting their staff. They’re cutting their hours. They’re shutting down,” Grech said. “It’s not just the rent.”