California Minimum Wage
What you need to know
Last week, California Governor Jerry Brown signed into law a minimum wage increase for the state. SB 3 raises the minimum wage incrementally, reaching $15/hour by 2022 (or 2023 for small businesses with 25 or fewer full-time employees). On the right, you'll find an infographic with basic information about the increase, including the timeline.
As you're looking at rental rates and contracts, keep this fact sheet in mind.
The most obvious impact of the wage hike is an increase in labor costs; however, there may be benefits in the number of attendees and average spending while on the grounds.
This bill moved quickly from conversation into law. There were other union-supported bills in play that could have raised the minimum wage to $15 more quickly.
With time to research and gather information, members can prepare for this increase and create strategies to mitigate it.
The minimum wage is above the federal rate in 29 states and the District of Columbia. New York also passed a $15/hour minimum wage, with other states and provinces looking at increases. San Francisco, Los Angeles and Seattle have already approved a $15/hour minimum, and 23 localities have minimum wage rates above the state-mandated level.Click here to view SB 3 bill text.