Thursday, May 11, 2017

Cashing Out Of NYC

They never learn:
Angelica Kitchen, long a staple of the East Village, closed their doors after 40 years of operation in response to the increased cost of labor mandated by the new wage policy. “I felt like I was being regulated in a way that took certain choices away from me that I felt belonged to me, rightfully, as a business owner,” owner Leslie McEachern said. “I’m not trying to undercut or underpay anybody, but I also don’t know what’s coming down the pike.”

Despite the negative effects of December’s increase, minimum wages in the city are set to increase again by another two dollars at the end of 2017.

Not all restaurant owners are lamenting the new wage policy. Jason Wang, the founder of Xi’an Famous Foods in Manhattan supports the wage increase policy. However, he claims that to offset the increase in the cost of labor, he was forced to raise his prices.

“No one is ever going to celebrate a price increase,” Wang said. “But I think that with the wage increases, people won’t see working in the food industry as a lowest-paying job you take if you can’t find work, and start viewing it as a career. It will be good for the industry in the long run.”
Until you can't afford it...

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