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Surprise! California’s 40 Qs of Rising Minimum Wage & Fast Food Industry Growth (Beating USA)

The Big Picture

Many fast food workers (specifically) got bumped to $20/hour, from $16, in April (the law is very specific about who is eligible for the increase). Over that decade, with its minimum wage rising, California’s fast food industry has bested the rest of the US by leaps and bounds. Our story began with a Wall St.

Food 306
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Schedule for Week of March 16, 2025

Calculated Risk

This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline). Any number below 50 indicates that more builders view sales conditions as poor than good. The graph shows existing home sales from 1994 through the report last month. -- Friday, March 21st -- No major economic releases scheduled.

Retail 191
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Debunking QSR Minimum Wage BS: A Follow Up

The Big Picture

I wrote: It appears to me that the Journal got that number from BLS. His headline is classic: The fast-food industry claims the California minimum wage law is costing jobs. Its numbers are fake. Source : The fast-food industry claims the California minimum wage law is costing jobs. Its numbers are fake.

Food 305
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Review: Ten Economic Questions for 2022

Calculated Risk

At the end of each year, I post Ten Economic Questions for the following year (2022). percent year-over-year and the November PCE price index, excluding food and energy, increased 4.7 As of August 2022, the total number of jobs had returned and are now 1.044 million above pre-pandemic levels. percent year-over-year.

Economics 285
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UPDATE: New CA QSR Min Wage Study. A Victory Lap.

The Big Picture

@TBPInvictus here: If you’re not aware of the brouhaha that was stirred about a year or so ago when CA Gov Gavin Newsom signed into law (taking effect April 1, 2024) a new $20 minimum wage for so-called “limited service” (a/k/a fast food or QSR) restaurant workers, read up here , here , or here. Its numbers are fake.

Food 290
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At the Money: Austan Goolsbee, Chicago Fed President on Tariffs, Inflation and Monetary Policy

The Big Picture

How should investors view the relationship between trade policy and inflation in the current economic environment? Gwinn Professor of Economics Masters in Business (coming soon) ~~~ Find all of the previous At the Money episodes here , and in the MiB feed on Apple Podcasts , YouTube , Spotify , and Bloomberg. I think number one.

Economy 162
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Sunday links: forecasting accuracy

Abnormal Returns

(gothamgal.com) 15 states have rejected a new, federally funded summer program to give food assistance to hungry children. washingtonpost.com) Measuring economic inequality is harder than it looks. washingtonpost.com) The number of American centenarians is set to quadruple. pewresearch.org) Who get theirs rough roads repaved?