Wednesday, May 16, 2018

Quote du jour

A March 2018 Harvard Business School study found that just a one dollar increase in the minimum wage leads to a 14-percent increase in the likelihood that a restaurant with an average rating on Yelp will close.

The authors calculated that, because a third of a restaurant’s expenses are spent on payroll, a ten percent increase in the minimum wage will cause profits to decline by two percent. The average profit margin of a restaurant is from two to five percent.

-Keith Koffler

No comments:

Post a Comment

Related Posts with Thumbnails