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“Our view is the minimum wage is most likely going to be increasing, whether that’s federally or at the state level,” he said. Related: McDonald’s earnings miss expectationsĬhris Kempczinski, McDonald’s president and CEO, acknowledged the push lawmakers are making to raise the federal minimum wage to $15 an hour on the company’s Thursday earnings call with investors. While more than 75% of McDonald’s restaurants used touch-screen ordering kiosks in 2019, up from just 20% in 2017, Ashenfelter and Jurajda weren’t able to conclude whether this was directly related to minimum wage hikes. Previous research has suggested that businesses are more likely to turn to automation to replace low-skilled workers in response to minimum wage increases. More specifically, they estimated that a 10% minimum-wage increase leads to a 1.4% increase in the price of a Big Mac. On average, Big Macs cost $5.66 in the U.S., according to the Economist’s Big Mac Index.

They found that the higher cost of labor that results from increasing minimum wages gets passed on to consumers in the form of more expensive Big Macs. counties with a McDonald’s in every year. The two economists collected survey data on the price of a Big Mac (including sales tax) and wage rates of basic hourly workers above the age of 18 from at least 90% of U.S.

That’s according to new research by Orley Ashenfelter, a Princeton University economist, and Štěpán Jurajda, an economist at Charles University in Prague. In fact, as a result of the nearly 300 minimum-wage increases that took place between 20, many McDonald’s restaurants paid workers slightly above the new minimum wage to retain employees.

How much does it cost to create calendar on mac