Conservatives and economists have warned for years that hiking the minimum wage would lead to consequences, such as job losses and price increases.
Fast food chain Chipotle is a case study in the consequences of raising the minimum wage, which allows for entry-level workers to gain valuable work experience. Last week, Chipotle announced that it would be raising menu prices by 4% to offset labor costs, a move that comes amidst $15 minimum wage increases around the nation. As Business Insider reported, Chipotle CFO Jack Hartung warned in April that the increased minimum wage would translate to higher costs for consumers.
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