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Restaurant Industry - 2nd Round of Minimum Wage Increases Coming Soon!

2nd Round of Minimum Wage Increases Coming Soon!

The Associated Press reported that effective July 24, the federal minimum wage will increase $0.70 to $6.55 per hour. This is by no means new news, but these higher labor costs will again be top of mind for investors as this second increase will impact most restaurant companies in the upcoming quarter (3Q08), putting even more pressure on margins.