Re: Summation of Wynne's Minimum Wage AnnouncementFeb 10th, 2018
Fortunately Ignore Lister's have no need to make sense. They only need to whine.
Restaurant group uses price increases, menu changes to deal with minimum wage rise
More from Canadian Press
March 12, 2018
March 12, 2018 11:59 AM EDT
Bill Gregson, president and CEO of Cara Operations speaks during a press conference in Toronto on Tuesday, January 23, 2018.Christopher Katsarov / THE CANADIAN PRESS
TORONTO — The restaurant group owned by Cara Operations has managed the impact of Ontario’s hike in minimum wages through selective price increases and changes to its menu, chief executive officer Bill Gregson told analysts Monday.
Gregson’s comments follow Cara’s release of fourth-quarter results on Friday that showed it had $27.3 million of net income for the 14 weeks ended Dec. 31.
That was up from $19.7 million a year earlier, when there was a more normal 13 weeks in the 2016 fourth quarter.
Cara’s gross revenue was $225.4 million, up from $175.6 million, while system sales for its various restaurants was $774.9 million, up from $641.1 million. Its restaurant chains include Harvey’s, Swiss Chalet, Fionn MacCool’s, Kelsey’s, Milestones, East Side Mario’s, Montana’s and St-Hubert.
Same restaurant sales — which indicates performance for most locations open at least a year — was up 2.5 per cent.
Gregson said that most of the year-over-year increase in restaurant sales was due to higher prices but there was also some increased customer traffic.
Restaurant group uses price increases, menu changes to deal with minimum wage rise | Toronto Sun
thus, 56,100 workers aged 15 to 24 lost their jobs between the law’s adoption and October, 2018,”
Minimum wage hikes kill jobs, raise restaurant prices: MEI
November 20, 2018
November 20, 2018 7:00 AM EST
Toronto Sun files
Ontario’s rapid increase in the minimum wage contributed to the loss of over 56,000 jobs for young workers and helped drive up the price of restaurant meals three times faster than in any other province, according to a new Montreal Economic Institute (MEI) publication.
“It is therefore not surprising to find that the employment rate among workers between 15 and 24 years of age, which had been trending upward for quite some time, fell when the minimum wage law was adopted in November, 2017 — thus, 56,100 workers aged 15 to 24 lost their jobs between the law’s adoption and October, 2018,” says the publication — authored by Alexandre Moreau — released Tuesday. “Furthermore, between the law’s adoption and September 2018, there has been a 5.6% increase in the prices of meals in restaurants, a sector in which nearly 70% of workers earned less than $15 an hour.”
At the urging of union and anti-poverty groups, the former provincial Liberal government announced that it would accelerate the increase in the minimum wage to $14 an hour as of last January and then to $15 hourly in 2019.
The Ontario Progressive Conservative government has halted the planned hike to $15 an hour, and instead brought in provincial income tax cuts for low income earners.
Labour Minister Laurie Scott said the province lost more than 50,000 jobs in January and over 80,000 in August, most of them part-time.
“We saw the impact of a sudden rise of 21% in minimum wage … Mainly small businesses just couldn’t absorb it,” she said.
Minimum wage earners lost hours, benefits and jobs as a result, while store owners took on work that they would normally have given to part-timers, she said.
“We’re helping people the way we think would be most beneficial,” she said.
The MEI publication supports measures like raising the basic income tax exemption for low-income earners, arguing employment falls any time the minimum wage becomes more than 45% of the average wage as it did in Ontario.
“No one doubts the good intentions of those who continue to call for rapidly increasing the minimum wage in all circumstances, but that does not make it an effective measure for reducing poverty,” Moreau writes.
Premier Doug Ford, left, and Kathleen Wynne. THE CANADIAN PRESS/Chris Young
Liberal Leader John Fraser said claims that minimum wage hikes kill jobs are false.
Ontario has created tens of thousands of jobs, year over year, and many restaurants have already raised their menu prices in anticipation of the $15 an hour wage, he said.
About half of minimum wage earners work for companies with more than 500 employees, Fraser said.
“I think they can absorb that and I think the government’s argument is bogus,” Fraser said. “You know $15 an hour allows people to do things for their families that the vast majority of people in this province take for granted.”