Albany (February 7, 2013) – Mike Durant, State Director for the National Federation of Independent Business (NFIB), New York’s leading advocate for small business owners, today issued the following statement in response to the Women’s Chamber of Commerce and other corporate groups that today endorsed a proposal to increase the minimum wage:
“A majority of employers in New York already pay more than the minimum wage. And nothing prevents corporations and big businesses from paying as much as they deem necessary. But many small businesses simply cannot absorb higher labor costs. This is the problem with a blanket government mandate that imposes the same conditions on every business regardless of their circumstances.
“Small businesses have had a much more difficult time in this economy than corporations, many of which make their profits overseas where labor costs and taxes are more favorable. Small businesses operate on very thin margins and the costs imposed by government affect them disproportionately. Raising the minimum wage on small businesses that can’t afford it will result in fewer small businesses, fewer jobs and a slower state economy.
“NFIB research predicts the loss of thousands of jobs as the result of a higher minimum wage. And there is abundant academic research showing that higher minimum wage laws have destroyed jobs, especially for teenagers and workers with the lowest skills and least experience.
“If our friends at the Women’s Chamber of Commerce and other Chamber groups want to improve the economy, they should join Small Business owners in seeking lower taxes and fewer meddlesome regulations like this so that employers of every size can prosper, invest, expand and create jobs.”
For more information about NFIB, please visit www.nfib.com.