San Francisco Restaurant Shuts Down Over $15 Minimum Wage

The San Francisco Eater reports:

Longstanding Valencia Street hip-casual dinner-and-a-cocktail spot Luna Park will close by the end of the year, the restaurant's owner AJ Gilbert told Uptown Almanac over the weekend. According to Gilbert, the popular brunch spot with the whimsical early-aughts flair, is closing due to an expected increase in labor costs that will come along a $15 minimum wage in San Francisco. Although the minimum wage bill doesn't actually go before voters until election day next week, Gilbert believes it is a sure-thing.

The demand for labor really is a downward sloping curve. Hat tip to Professor Mark Perry on this San Francisco story of real economics in action.