June 2015
In December 2014, the Chicago City Council approved a law raising the city’s minimum wage by nearly 60 percent, to $13 an hour, by 2019. A press release from the office of Mayor Rahm Emanuel trumpeted the wage hike as a boon for the city. Small business owners were less sure, expressing concerns about the unintended consequences of labor cost increases that couldn’t be offset through higher prices. The first stage of the…