The business community stands to benefit from a higher minimum wage through increased disposable income. Studies have shown that most businesses will not need to significantly increase prices. For example, in the fast food industry, the industry most likely to raise prices –consumers may only see up to a 30 cent increase in the cost of their hamburgers. That’s a cost that’s consumers aren't likely to balk at when the benefits of increased wages for their familes and community are considered.
How will the proposal for Pasadena’s minimum wage increase help businesses?
Workers who receive higher wages have more disposable income and support local businesses to thrive.
The proposal from Pasadenans for a Livable Wage calls for a minimum wage ordinance closely resembling the Los Angeles City and County Ordinances, which allowed small businesses an extra year to phase wage increases in amidst a gradual five year timeline.
After increasing to $15/hour, the proposal would call for cost of living adjustments to avoid wages stagnating in the future, which have historically hovered around 2% annually--an affordable cost increase.
Interested in working with our campaign?
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Why is it critical for Pasadena’s City Council to act
Both the City and County of Los Angeles have now passed legislation to move toward a $15 minimum wage. Pasadena needs to be competitive by raising itd wages to keep the best workforce. Instead of losing employees to higher wage locations, Pasadena employers will be able to retain their top workers. For employers with multiple locations throughout the county, one minimum wage will make things simpler.
Business owner, Kevin Litwin, of Joe's Auto Parks speaking to Pasadena City Council about the benefits of raising the wage for business owners.
“We wholeheartedly support raising
[Pasadena’s] wage up to $15 per hour…When the [Seattle minimum wage increase] went through…we saw great benefits…the labor force was more productive; we saw our revenues increase; [and] we saw more volume come to our business.”
– Kevin Litwin, COO, Joe’s Auto Parks (A multi-state business with a Pasadena location.)
“While we’re honored to be the first, we hope that the rest of the banking industry swiftly joins us in paying industry employees a living wage […] a livable minimum wage is not only the right thing to do – it’s also good business.”
– Keith Mestrich, CEO of Amalgamated Bank (A national bank that recently raised its minimum wage to $15 per hour and has a Pasadena