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rib3ye

Sometimes I go to In-and-Out Burger and I see hiring posters on the front door.

One year ago they offered $19/hr starting pay.

Today the poster says $22/hr.

Something is up.

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Incredible. An actual realistic livable minimum wage!

Some advice I saw on a video a couple of months ago, targetting employers:

"Take a look on Zillow (or wherever) and get a good feel for the median rental cost of a 1 bedroom apartment where you are based. If you can't afford to pay your employers at least 3x that, maybe you either shouldn't be in business at all, or should plan on doing it all yourself"

Excellent advice, that perhaps In-and-Out Burger has taken.

To be fair, that's In-and-Out's whole thing. They pay a living wage, so you as the customer don't feel like you're actively exploiting the person behind the counter by stepping foot in the place, and they use better ingredients so you don't feel like you're poisoning yourself. It helps the whole mood of the place. It used to be you were paying extra for that relative to, say McDonalds, but somehow they've also kept costs down relative to other fast food companies.

There's a reason it's generally well liked.

Throwing US centric facts. 10,000 boomers retire every day. 1.8 million people 55+ die every year. A healthy economy makes anywhere between 150,000 and 250,000 jobs per month. There is no labor shortage, only a shortage of people willing to work jobs below a living wage, due to millions of people who left the labor force, either through retirement or death, during the pandemic.

https://fred.stlouisfed.org/series/CIVPART

https://fred.stlouisfed.org/series/UNRATE

https://www.axios.com/2022/12/16/the-missing-workers-who-are...

https://seekingalpha.com/article/4531829-older-workers-propp...

Were these jobs paying more to the previous employees than they are offering now?

No, they were paying less. There are less people competing for them now, hence wages rising. Supply -> Demand.

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