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The current U.S. minimum wage is $7.25 per hour and hasn't been increased since 2009. With the advent of inflation, there are several proponents for an increase in the federal minimum wage. It's also noteworthy that small business owners may struggle to afford a federal minimum wage increase. National chains, huge corporations like McDonald's, hiked prices amid the pandemic in response to factors that included supply chain shortages, rising commodity prices and higher labor costs. Labor costs may be chief among them when you factor in a $20 per hour minimum wage in California for a fast-food worker that took effect April 1, 2024. In return, several restaurants closed their doors in California - Rubio's Coastal Grill, Chili's, Applebee's, Cracker Barrel, TGI Friday's, MOD Pizza, and Red Lobster to name a few.