This is something the left just can’t or won’t ever understand even though it’s basic economics. If you force companies to pay a higher wage than the market demands, the company will find a way around it.
They have to in order to protect their investors and employees without passing the cost onto their customers.
McDonald’s is going the way of automation.
Zero Hedge reported:
McDonalds Is Replacing 2,500 Human Cashiers With Digital Kiosks: Here Is Its Math
The stock market is luvin’ McDonalds stock, which has continued its recent relentless rise to all time highs, up 26% YTD, oblivious to the carnage among the broader restaurant and fast-food sector. There is a reason for Wall Street’s euphoria: the same one we discussed in January in “Dear Bernie, Meet the “Big Mac ATM” That Will Replace All Of Your $15 Per Hour Fast Food Workers.”
In a report released this week by Cowen’s Andrew Charles, the analyst calculates the jump in sales as a result of the company’s new Experience of the Future strategy which anticipates that digital ordering kiosks (shown above) will replace cashiers in at least 2,500 restaurants by the end of 2017 and another 3,000 over 2018. Cowen also cited plans for the restaurant chain to roll out mobile ordering across 14,000 U.S. locations by the end of 2017 (we did not show that particular math, but the logic was similarly compelling).
The people who lose their jobs over this can thank left wing minimum wage activists.
Unfortunately, this is going to happen more and more.