The state's minimum wage is increasing to $16.35 per hour, one of the highest in the nation. This rise will affect businesses, especially small ones with limited pricing flexibility. While supporters highlight the benefits for workers, some worry about the impact on small businesses and local economies.
The minimum wage in Connecticut is increasing to $16.35 per hour, one of the highest in the nation, starting Wednesday. This rise, driven by the federal employment cost index, will impact businesses like the Wesleyan RJ Julia Bookstore in Middletown, which is adjusting its operating budget. While supporting fair wages, RJ Julia Booksellers president Lori Fazio acknowledges the challenges this poses, particularly for bookstores with fixed prices set by publishers.
Unlike some businesses, bookstores have limited ability to increase prices to offset costs. University of New Haven accounting professor James Moh believes while the increase benefits workers in the short term, it's not intended as a lifelong wage. He sees it as an entry-level wage designed to encourage learning and skill development. Public opinion is divided, with some locals supporting the wage hike to benefit minimum wage earners and others expressing concern about its impact on small businesses
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