Category Archives: Economy

Minimum wage success in NYC: Worst decline in minimum wage jobs since 9-11

From Jon Miltimore at Foundation for Economic Education:

Data show that following the labor movement’s “Fight for $15” victory, which imposed steep annual increases in mandatory wages for workers, New York City experienced its sharpest decline in restaurant jobs in nearly 20 years…

A New York City Hospitality Alliance survey also showed that three out of four full-service restaurants said they planned to reduce employee hours. Nearly half of those surveyed said they planned to eliminate some job positions in 2019.

In response, New York City council members are trying to shield restaurant employees from “unfair” firings. Labor lawyer Michael J. Lotito, whose firm represents the restaurant industry, told The Times that a “just cause” firing provision for fast food employers “would be a first in the country.”More.

Reality check: The main winner is the robotics industry. But, overall, robotics is only a partial solution for management.

First, there’s the McPathogens problem (you can make employees take sanitary precautions; you can’t force them on customers).

Second, as a computer science prof notes, “Speaking of burger-flipping leading to the loss of jobs, I have been told personally by two McDonald’s managers that the new automated ordering kiosks inside do not replace jobs. In fact, an employee is sometimes assigned to teach customers how to use them. Older customers hate the kiosks. I’d like to see more data on this.”

Third, many venues are not even suited to automation; the mood is wrong.

The most likely long-term outcome is higher prices, hence fewer customers, so fewer jobs. Maybe the unemployed can learn to code. If not, they won’t be able to afford to eat at their former places of employment.

See also: The real reason elitists oppose standardized testing

and

Universal Basic Income? Fear of AI fuels bad economics says biz prof

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Open Letter From New York State Budget Director Robert Mujica Regarding Amazon

“As just about everyone in this state, if not the country, knows by now, Amazon has terminated its plans to bring its second headquarters to New York State. It is a tremendous loss for New Yorkers and I hope that at a minimum, we understand the lessons learned.

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The reality of the recession bites some Albertans harder. What that means for the election — and whoever wins

EDITOR’S NOTE: This is the second in a five-part series that’s a little different from what you usually read on CBC. In it, we add new reporting and analysis to the work of dozens of writers who have contributed to our Calgary at a Crossroads and Road Ahead projects over the past three years. The goal is to take stock of the turbulent times we’ve been through while exploring where we’re headed next — and how we might get there.

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Corbella: Disastrous policies have created desperate times for Alberta’s young men

Renowned economist Jack Mintz, President’s Fellow at the School of Public Policy at the University of Calgary, says it’s not surprising that jobs are down in light of oil curtailment. Sure, curtailment was needed and helped narrow the oil price differential, but when you make less oil, you need fewer workers.

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In an election year, Canadians are suddenly very worried about the economy

At the start of this federal election year, Canadians have gone back to feeling pessimistic about both the state of the economy and their own financial situations. It’s a reversion to a gloomier outlook that took hold way back in the 2008-09 recession, after many Canadians seemed to have shaken off that sense of unease around the start of 2018.

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Canada’s on notice Albertans have had enough

Albertans are fed up with Quebec, the grand leech of Confederation. CAQ Premier Francois Legault lit the match when he killed the idea of restarting Energy East and declared there was no social acceptability for oil in Quebec. Well, guess what? There’s no social acceptability in Alberta for sending Quebec any more of our money.

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