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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 297
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Fed Chair Powell: Economic Outlook "Uncertainty"

Calculated Risk

From Fed Chair Powell: Economic Outlook Despite elevated levels of uncertainty, the U.S. economy continues to be in a good place. Recent Economic Data Economic growth The economy has been growing at a solid pace. The labor market is solid, and inflation has moved closer to our 2 percent longer-run goal.

Economics 162
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Friday links: lady luck

Abnormal Returns

feld.com) The best economics books of summer including "King Dollar: The Past and Future of the World’s Dominant Currency" by Paul Blustein. theblock.co) Economy Personal income and spending declined in May 2025. abnormalreturns.com) Mixed media Why entrepreneurs love discontinued food brands. marginalrevolution.com)

Math 144
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Never Mix Payroll and Household Survey Data

The Big Picture

I spend far too much time debunking economic b t. Our story so far: Hoover Institution’s Lee Ohanian wrote a piece last April falsely claiming that California’s new minimum wage law had cost the state almost 10,000 fast food jobs. MSM uncritically repeated the false number. The story was false. maybe just one more graf.

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Want More Jobs? Raise the Minimum Wage

The Big Picture

The least contentious of which is that modest increases in minimum wages increase economic activity and create jobs. Perhaps even more surprising has been the wholesale abandonment of specific industries: Food service, retail, etc., It stays local and is likely to benefit the regional economy.

Food 364
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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). As an example, when the pandemic hit, I switched from being mostly positive on the economy to calling a recession in early March 2020. percent year-over-year and the November PCE price index, excluding food and energy, increased 4.7

Economics 285
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Sunday links: money skepticism

Abnormal Returns

sherwood.news) Economy Real wages are still rising. econbrowser.com) The economic schedule for the coming week. seths.blog) The ten best books about food from 2024 including "Frostbite: How Refrigeration Changed Our Food, Our Planet and Ourselves" by Nicola Twilley. (vox.com) The SEC is paying out (big) to whistleblowers.

Math 167