Why does increasing the minimum wage decrease a business' profitability?

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asked May 10, 2021 194k views

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Farman Ameer · Answer 1 · 2021-05-13T12:26:13+0000

Answer: Raising the minimum wage reduces turnover. Higher wages lead to lower employee turnover, resulting in reduced recruiting and training costs. It also decreases the money of profit.

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Why does increasing the minimum wage decrease a business' profitability?

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