- July 28, 2021
- Posted by: Stratford Team
- Category: Business
Fox Business’ Lydia Hu has the latest on the worker shortage from New York City
Another day, another business industry upset with the Biden administration.
In the wake of President Biden’s comments to restaurant owner John Lanni that he will “be in a bind for a little while,” unless Lanni – and other restaurateurs – improve wages, some in the industry are speaking out.
“Hiking wages will only bring the entire industry [to] its knee. In New York already, we had a minimum wage hike over 50% in the last few years,” said Rosario Procino, owner of Ribalta in Manhattan.
Indeed, New York City has recently seen a period of historic wage raises during the Bill de Blasio administration, with the wage floor gradually raising to $15 an hour by the end of 2020.
“The margins [have] already shrunk in the last few years [because of] the minimum wage raise increase. Now with the higher price of raw material, with the [increased] rent, it will bring the…
