{"id":126132,"date":"2020-12-04T03:43:44","date_gmt":"2020-12-04T00:43:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ny-small-businesses-cant-handle-minimum-wage-hike-right-now\/"},"modified":"2020-12-04T03:43:44","modified_gmt":"2020-12-04T00:43:44","slug":"ny-small-businesses-cant-handle-minimum-wage-hike-right-now","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ny-small-businesses-cant-handle-minimum-wage-hike-right-now\/","title":{"rendered":"#NY small businesses can’t handle minimum-wage hike right now"},"content":{"rendered":"

“#NY small businesses can’t handle minimum-wage hike right now<\/strong>”
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Pandemic restrictions have forced many employers to furlough workers, cut staffs and even close entirely. And many of those remaining now face the prospect of having to pay a higher minimum wage as of Jan. 1<\/a> \u2014 which will likely kill more jobs.<\/p>\n

But Gov. Andrew Cuomo can delay it.<\/p>\n

\u201cThe last thing New York\u2019s economy needs is a state-mandated disincentive to put people back to work,\u201d notes the Empire Center\u2019s E.J. McMahon. This sure isn\u2019t the economic climate that lawmakers expected.<\/p>\n

The minimum hourly wage, already $15 in the city, is to rise from $13 to $14 (7.7 percent) in Long Island and Westchester, and from $11.80 to $12.50 (5.9 percent) in the rest of the state. That\u2019s bigger than most employers\u2019 profit margins.<\/p>\n

As McMahon points out, the state Division of the Budget can recommend a \u201ctemporary suspension or delay\u201d of the hikes based on an analysis of regional economies. And unemployment and business closures are up in every region; every county and municipal government has falling tax revenues.<\/p>\n

The numbers of jobless statewide \u201cstill remain over 1 million,\u201d state Comptroller Tom DiNapoli revealed this week<\/a>. Nearly a third of the nearly 1.1 million net jobs lost February-October, he noted, were in the leisure and hospitality sector \u2014 which will suffer again in the second virus wave.<\/p>\n

As he\u2019s also noted, \u201cNew York\u2019s small businesses reported greater overall negative impacts from the pandemic, along with greater expectations of such impacts lingering for months to come, than most other states.\u201d Nearly a third expect they\u2019ll need to obtain financial assistance or additional capital in the next six months. Don\u2019t hit them with a new cost instead.<\/p>\n

It shouldn\u2019t be too hard for the gov and his budget chief, Robert Mujica, to conclude that a wage-hike mandate now would be a deadly blow to small businesses \u2014 killing the jobs of those it aims to help.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#NY small businesses can’t handle minimum-wage hike right now” Pandemic restrictions have forced many employers to furlough workers, cut staffs and even close entirely. And many of those remaining now face the prospect of having to pay a higher minimum wage as of Jan. 1 \u2014 which will likely kill more jobs. But Gov. Andrew…<\/p>\n","protected":false},"author":1,"featured_media":126133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/12\/nyc-minimum-wage.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[82534,70430,70344,5069,43,5070,74150,71083],"class_list":["post-126132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-3-20","tag-andrew-cuomo","tag-coronavirus-in-ny","tag-economy","tag-editorial","tag-jobs","tag-minimum-wage","tag-small-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/126132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=126132"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/126132\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/126133"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=126132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=126132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=126132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}