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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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Never Mix Payroll and Household Survey Data

The Big Picture

MSM uncritically repeated the false number. 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. The story was false. Shame on all.]

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Schedule for Week of June 15, 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. -- Wednesday, June 18th -- 7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

Retail 179
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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. The graph shows existing home sales from 1994 through the report last month. -- Friday, March 21st -- No major economic releases scheduled.

Retail 191
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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
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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). percent year-over-year and the November PCE price index, excluding food and energy, increased 4.7 As of August 2022, the total number of jobs had returned and are now 1.044 million above pre-pandemic levels. percent year-over-year.

Economics 285
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Schedule for Week of January 12, 2024

Calculated Risk

For manufacturing, the December Industrial Production report and the January New York and Philly Fed manufacturing surveys will be released. -- Monday, January 13th -- No major economic releases scheduled. -- Tuesday, January 14th -- 6:00 AM: NFIB Small Business Optimism Index for December. The consensus is for a 0.4% down from 0.2.

Retail 162