NYC's new interventionist mayor is starting to intervene in the markets.
Mayor Bill de Blasio has announced an expansion of paid sick leave to hundreds of thousands more New Yorkers. The mayor's proposal would require businesses with five or more employees to provide paid sick leave, reports WNYC. The City Council passed a bill last year that hasn't taken effect yet requiring businesses with 20 or more employees to provide their employees with paid sick days.
De Blasio said the new regulations would cover 200,000 additional workers. He also said the bill would be fast-tracked through the City Council and written into law this year.
"Starting this April, the lives of over half a million New Yorkers will be immeasurably better, their lives will be more secure, families will be stronger and more stable because they will have paid sick leave coverage," de Blasio said.
Well, it won't be better for the small businesses who have to foot the bill, which means it will ultimately result in lower pay for workers to make up for the extra cost burden put on the businesses and it will cause small businesses to think twice about adding on a fifth employee.
Time to write an obituary for small business in NYC. And we can write another obituary for low skill workers.
ReplyDeleteI pray for some fire and brimstone to destroy NYC like Sodom and Gomorrah. But I think DiBlasio will be almost as destructive.
If you're the sixth employee, get your resume updated.
ReplyDeletePeople who cannot build, invent or create go into government to feel important. They feel important making oppressive rules for other people. They're mentally deranged.
ReplyDeleteGovernment can legislate price, but never value. It can make an employee cost more, but never worth more.
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