ALBANY, N.Y. (NEWS10)– A new survey of restaurants in NYS shows nearly a quarter would likely shut down if the state’s minimum wage is increased to $15.
The Employment Policies Institute released the results of their survey on Thursday, a day before the new Wage Board’s first public hearing in Buffalo. The EPI surveyed 924 restaurants across the state in response to the possible $15 fast food minimum wage.
Forty-eight percent said they would be “very likely” to reduce their employees’ hours or reduce staffing levels. Twenty-two percent said they would be “very likely” to close their restaurant. Seventy percent said they would be “very likely” to raise their prices.
The survey included fast food restaurants from across the state including in New York City, Albany, Buffalo, Rochester, Syracuse, and Binghamton.
On May 7, the Wage Board was appointed to make recommendations on an increase in the minimum wage in the fast food industry. They are expected to examine the issue for about three months and make their recommendations regarding a possible increase in July.