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California's New Minimum Wage Raises Menu Prices, Lawsuit Filed Against Oil and Gas Companies, Rising Labor Costs, Declining Tech Salaries, and Price Increases for Chipotle and McDonald's
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California's new minimum wage is set to raise menu prices in fast food restaurants, with one chain announcing plans to pass the added costs to consumers. Governor Newsom and Attorney General Bonta have filed a lawsuit against oil and gas companies, claiming deception about the risks of fossil fuels and potentially leading to higher gas prices and reduced jobs. U.S. labor costs rose in the third quarter, driven by strong wage growth. Tech workers in the U.S. are experiencing a decline in salaries, with stagnating salaries and salary decreases for junior staffers. Chipotle and McDonald's plan to raise prices in California next year in response to the state's minimum wage hike.
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How might the new minimum wage impact other industries in California?
What are the potential consequences of the lawsuit against oil and gas companies?
What strategies can tech workers employ to increase their earning potential?
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