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Good News for Main Street Could Mean Bad News for Wall Street 7/6/23

CNBC's "Last Call"

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New York City's Minimum Wage Law Is Flawless

DoorDash, Uber Eats, Grubhub, and relay are suing New York City over its newly passed minimum wage law. Law will force delivery companies to either pay workers roughly 50 cents per minute spent on a trip or a set minimum wage just under $18 per hour that they spend on an active trip. Currently, each app has control over its workers, pay rates, and none of the companies actually employ the drivers. All of them are considered independent contractors, gig workers.

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