Albuquerque’s New Minimum Wage Rate - Is it fair to business Owners?
The voters of Bernalillo County passed a New Minimum Wage Rate of $8.50 per hour, which has come under harsh criticism from local business owners who claim they can’t afford it.
As one who supported the minimum wage increase, I find it odd that there is so much discord. All they have to do is pass it onto the consumers. It seems to me that it would make good business when their employees can afford to make ends meet. But let’s analyze this…for an employer who currently hires 50 employees at $8.50 versus $7.50, we are talking about difference of $2000 per week. Are you telling me me that their margin is so tight that there is no room for small adjustments? If a businessman has to be out on the street in front of the TV, it seems to me that there is a lot more for him to worry about. Or maybe it is just politics.
Even unskilled labor sometimes has choices. It is likely that employees will move to the employers who pay the new minimum gage instead of those who will not.
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C. Lloyd McKenzie, MBA
Berkshire Hathaway HomeServices
New Mexico Properties/Allstar, REALTORS
6739 Academy Rd. NE SU 200
Albuquerque, New Mexico 87109
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