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<br /> <br />The Effects of a $15 Minimum Wage by 2019 in Santa Clara County and San Jose 33 <br /> <br />payroll costs rise by 2.1 percent.15 Across the entire Santa Clara County economy, we estimate <br />that payroll costs will rise by 1.0 percent by 2019. <br />We therefore estimate that by 2019, total operating costs will rise by 2.9 percent for restaurants, <br />0.2 percent for retail, and 0.2 percent for the overall economy. <br />Table 9. Cost impacts for businesses in Santa Clara County by 2019 <br /> Percent change in payroll costs Labor costs as percent of <br />operating costs <br />Percent change in <br />operating costs and <br />prices <br />All 1.0 22.1 0.2 <br />Restaurants 9.5 30.7 2.9 <br />Retail 2.1 10.8 0.2 <br />Source: US Census Annual Wholesale Trade Report and authors’ analysis of ACS, OES, and QCEW data. See Appendix A2 Part B <br />for details. <br />8.A. - Page 47