Minimum wage boosts affecting 10 million workers in 22 states with varying outcomes

The video discusses a family-run business in California facing challenges due to minimum wage hikes. Initially, the business expanded easily, but recent wage increases have strained their finances, forcing them to raise prices and cut lunch hours. Employees benefit from higher wages, but the business risks closure. An expert explains the economic impact of wage increases, highlighting the balance between labor costs and consumer pricing. The business owners remain uncertain about the future, hoping to avoid closure.

What was one of the initial challenges faced by Kim's business?

• Supply chain issues

• Lack of customers

• Minimum wage hikes

• High rent costs

How did Kim manage to keep her business running despite financial challenges?

• By hiring more staff

• By closing the business temporarily

• By taking a pay cut

• By reducing product quality

What was one benefit mentioned by employees regarding the wage increase?

• Increased job security

• Ability to pay off debts

• More vacation time

• Higher bonuses

According to Barton Hamilton, what is a common consequence of raising the minimum wage?

• Increased employee satisfaction

• Higher consumer spending

• Fewer job opportunities

• More business investments

What is Kim's outlook on the future of her business?

• Confident in overcoming challenges

• Planning to sell the business

• Optimistic about expansion

• Uncertain and worried about closure