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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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Retail Sales Increased 0.2% in February

Calculated Risk

retail and food services sales for February 2025, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $722.7 This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline). Retail and Food service sales, ex-gasoline, increased by 3.4% billion, up 0.2

Retail 253
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Personal Income increased 0.6% in October; Spending increased 0.4%

Calculated Risk

Excluding food and energy, the PCE price index increased 0.3 The PCE price index, excluding food and energy, increased 2.8 Disposable personal income (DPI), personal income less personal current taxes, increased $144.1 billion (0.7 percent) and personal consumption expenditures (PCE) increased $72.3 billion (0.4 percent in October.

Food 303
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YoY Measures of Inflation: Services, Goods and Shelter

Calculated Risk

Commodities less food and energy commodities were at -0.0% The second graph shows that goods prices started to increase year-over-year (YoY) in 2020 and accelerated in 2021 due to both strong demand and supply chain disruptions. Durables were at -1.2% YoY as of February 2025, unchanged from -1.2% YoY in January. YoY in January. in January.

Food 251
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BLS: CPI Increased 0.2% in February; Core CPI increased 0.2%

Calculated Risk

The index for food also increased in February, rising 0.2 percent as the index for food away from home increased 0.4 The food at home index was unchanged over the month. The index for all items less food and energy rose 0.2 The all items less food and energy index rose 3.1 The food index increased 2.6

Food 147
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Retail Sales Decreased 0.9% in January

Calculated Risk

retail and food services sales for January 2025, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $723.9 This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline). Retail and Food service sales, ex-gasoline, increased by 4.2% in January.

Retail 147
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BLS: CPI Increased 0.5% in January; Core CPI increased 0.4%

Calculated Risk

The index for food also increased in January, rising 0.4 percent as the index for food at home rose 0.5 percent and the index for food away from home increased 0.2 The index for all items less food and energy rose 0.4 The all items less food and energy index rose 3.3 The food index increased 2.5

Food 147