TheStreet’s Jim Cramer says the Obama administration’s decision to extend overtime pay to millions of workers will spike labor costs, and it’s very negative for the stock market. Cramer noted that retail and restaurant stocks traded lower when minimum wages went up.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
