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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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Why Hasn’t the California Globe Retracted Its Story?

The Big Picture

Right up top, we have the lede: Earlier in June, the Globe reported that California has lost just under 10,000 fast food jobs since the new $20 minimum wage for fast food employees was first signed into law late last year, according to the California Business and Industrial Alliance (CABIA). Baby steps. No, dear reader. They have not.

Food 338
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Update: "Why Year-over-year Headline Inflation will Decline Sharply in May and June"

Calculated Risk

Before the CPI report was released, I wrote: Why Year-over-year Headline Inflation will Decline Sharply in May and June The key point was that energy and food prices soared in May and June 2022, and as those data points are removed from the year-over-year calculation, the YoY change will decline sharply.

Food 333
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Seattle Redux: Misunderstanding Seasonal Adjustments

The Big Picture

What followed in the immediate aftermath of both the announcement and implementation was nothing less than a apocalyptic, collective head explosion on the right about the devastating effects the increase would have, particularly in the food services sector: However, there’s little doubt that the city’s heralded food scene is running scared.

Food 336
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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. 8:30 AM: The New York Fed Empire State manufacturing survey for March. The consensus is for a reading of -2.0, down from 5.7.

Retail 191
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Why Year-over-year Headline Inflation will Decline Sharply in May and June

Calculated Risk

This is very likely for both CPI and the PCE price index since energy and food prices soared in May and June 2022. However, core inflation does not include food and energy, so we won't see as dramatic a decline in core CPI and core PCE. in May, 3.2% This shows the large increases in May and June 2022 for CPI and the PCE price index.

Food 342
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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