![Newsom’s California Minimum Wage Hike Is Leading to Lower Prices at Fast Food Chains](https://worldmatrix.com/wp-content/uploads/2024/07/newsom_fast_food_minimum_wage_prices-600x400.webp)
Newsom’s California Minimum Wage Hike Is Leading to Lower Prices at Fast Food Chains
California’s recent minimum wage hike to $20 per hour, signed into law by Governor Gavin Newsom, has prompted fast food chains to adapt their strategies. While initial reactions suggested higher prices to offset increased labor costs, a surprising trend is emerging: some restaurants are introducing new value menus to attract customers, potentially leading to lower…