Benefits Of Repealing The Sb 3 Essay

807 Words May 22nd, 2016 4 Pages
To elaborate more on employment rates, one should know that another benefit to repealing the SB 3 is that small businesses will not have to terminate a specific amount of employees to meet cutbacks, instead small businesses will maintain the same employment rates, or provide new opportunities for young adults to become employed. Again, for this to come about, the $15 minimum wage bill needs to be repealed, because the California Chapter of the National Federation of Independent Businesses (NFIB) that represents small and independent businesses, since 1943, uncovered an alarming risk on SB 3, which could potentially hurt small businesses. Before I describe the calculations of their research, I should mention that the study was founded on a strong estimate from a sample mean to a population mean. Another way to look at this is that specific firms were selected from California, which represented the entire state of California, when it comes to businesses that is. Subsequently, the NFIB “estimated that [SB 3] would shrink the California economy by $5.7 billion in the next ten years and result in as many as 68,000 jobs being cut from the state,” causing firms to take action by reducing hours of employees or letting them go at the end of the day (Wilterdink). This action does not come out of greed for money, instead it is to make sure that the firm maintains a constant profit margin by handling control of costs and expenses. What is more, NFIB “estimated further that 63 percent of…

Related Documents