San Francisco is not the only place where restaurants are closing because of the hike in the minimum wage; now it’s hitting New York with a vengeance, too. According to The New York Post, the state of New York lost 1,000 restaurants last year; jobs as cooks, servers and dishwashers only increased by 1.4%, far less than the 4.4% rate of growth exhibited between 2010 to 2015, according to the Employment Policies Institute.
In New York City, where restaurants are forced to pay their employees $12 an hour, $1 more than other employers, job growth was 3.4% in 2016 as opposed to 7% from 2010 to 2015. It’s even worse in 2017; the growth has only been 2%. Among full-service restaurants, growth has only risen 1.3%; the last five years it was 6.5%.
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