Can you find employees?
In my northern city, as soon as I felt comfortable going back to restaurants I quickly stopped - the wait everywhere is >2hr because they’re desperate for ppl. McDonalds is even offering $22/hr
In my northern city, as soon as I felt comfortable going back to restaurants I quickly stopped - the wait everywhere is >2hr because they’re desperate for ppl. McDonalds is even offering $22/hr
To caveat, I am in a highly desirable submarket for entry level staff, with near 75% 1 year retention, and above market pay for my area, especially for part time staff.
To provide further context, I had a staff member quit a couple weeks ago, because I do not pay a "livable wage", while this staff member only worked 2 days a week based on their availability. I am not sure how to address this kind of issue.
Possibly dumb question, but how much do you pay per hour and how much are the rents in your local area?
I only have one employee working around 15 hours a week at A$28/hr (minimum wage is around A$26/hr for "casual" employees with no set hours or paid leave), but that's enough to cover all living expenses in shared accomodation plus a bit extra.
Key detail seems to be that shared accommodation is very undesirable for my staff, at least those few that live outside the family home.
I wonder how many issues of inequality and low living standards would simply disappear if we as a society simply decided to enact policies to drive the cost of housing down as low as possible, rather than inflating it and making it artificially scarce.
You would have to somehow transform 50+ years of suburban sprawl into a higher-density, less car dependent living arrangement, that's also _cheaper_ than the current one, and affordable to e.g. restaurant and retail workers.
At least in Australia, most of the increase in value comes from speculators and investors taking advantage of very generous tax concessions (negative gearing, capital gains tax reductions, reserve bank handing out low-interest loans to property investors).
Rental vacancy rates in Sydney and Melbourne have remained pretty much static over the past decade (excluding COVID), yet prices have soared by 60-70%.
I mean. People want their houses to be expensive. They also want their money to become expensive (deflation). It really doesn't make sense to me.
In theory expensive housing makes it easier to build more of it. That law of supply and demand doesn't really exist because it is not a free market. It's actually kind of funny. It's the subversion of the free market. As land and the house that sits on top of the land gets more expensive people want to reduce supply. They use politics to basically run what amounts to a housing cartel. You won't sell your house so that apartments can be built. Your neighbor isn't allowed to build them either.