On Tuesday, the National Federation of Independent Business Research Foundation released a report that found about 370,000 California jobs could be lost within five years if a bill requiring all businesses to provide paid sick leave becomes law, the Silicon Valley/San Jose Business Journal reports.
According to the report, the bill (AB 2716), by Assembly member Fiona Ma (D-San Francisco), would:
- Cost employers $4.6 billion;
- Lead to $59.3 billion in lost sales in the first five years of the bill's enactment, with 36.2% of total sales losses projected to hit small businesses with fewer than 100 employees; and
- Result in major job losses in retail trade, construction and professional services.
The Senate Labor Committee is expected to vote on the bill today (
Silicon Valley/San Jose Business Journal, 6/24).