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L.A.’s $15 Minimum Wage Could Soon Have One Huge Impact The City Didn’t See Coming
As Los Angeles prepares for a significant minimum wage hike over the next several years, the negative connotations of paying unskilled laborers $15 per hour are already being realized. Even the labor unions responsible for pushing this legislation forward are now fighting to exempt themselves. Perhaps the most impactful potential fallout, however, could come from a mass exodus of entertainment professionals.
Hollywood has been synonymous with the American film industry for generations, though some see the added business costs associated with paying support staff such a relatively high wage as a deal breaker.
Variety interviewed some industry insiders, including Valley Industry & Commerce Association President Stuart Waldman, who acknowledged production costs in the area are constantly increasing.
“It just makes L.A. a little less film friendly,” he said of the minimum wage increase, “a little more difficult. If someone can get catering for cheaper in Louisiana, do they make that decision to shoot there?”
Coupled with the fact that the city’s rental market was recently ranked the nation’s most unaffordable, lost jobs associated with the increased minimum wage could force even more residents to move.
Beacon Economics studied the likely ramifications of the wage hike and concluded support services would likely move to a neighboring city to avoid the increased operating costs.
“You end up hurting city competitiveness and city tax revenues,” said Beacon Founding Partner Christopher Thornberg.
City Councilman Mitch O’Farrell, however, is not concerned. A major supporter of the new mandate, he declared that area businesses “will have time to anticipate an increase in costs.”
h/t: Breitbart
Will a minimum wage hike damage Hollywood? Share your thoughts in the comments section below.
This post originally appeared on Western Journalism – Equipping You With The Truth
Source: http://www.westernjournalism.com/l-a-s-15-minimum-wage-could-soon-have-one-huge-impact-the-city-didnt-see-coming/
