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California’s landmark $20 minimum wage for fast‑food workers—one of the most closely watched labor policies in the nation—has coincided with an estimated 18,000 job losses statewide, according to the most comprehensive economic analysis currently available. The estimate comes from economists who examined statewide employment records following the April 2024 wage increase. Their study found a 3.2% to 3.6% decline in fast‑food employment, a drop they attribute to higher labor c