|Many people predicted New York’s restaurant industry would suffer a huge blow following the city’s decision to raise its minimum wage to $15 an hour. |
But a new report by the National Employment Law Project and the New School’s Center for New York City Affairs tells a different story — rather than struggle, the food industry in the city is thriving.
“New York City has seen a strong economic expansion of the restaurant industry, outpacing national growth in employment, annual wages, and the number of both limited- and full-service restaurant establishments,” the report said.
As our partner organization ROC-NY noted in a recent newsletter, every measure charted in the report — jobs, number of restaurants, average wages — exceeded national performance over the past 5 years.
“The research presented here clearly shows that the large wage
floor rise did not diminish various indicators of restaurant performance,” the report’s Executive Summary concludes.
Read the whole report here.