Los Angeles Mayor Eric Garcetti will soon unveil a proposal to raise the city’s minimum wage to $13.50 an hour by 2017, increasing the current $9 minimum by $1.50 every year for three years, said Gary Toebben, Executive Director of the Los Angeles Area Chamber of Commerce, in the Los Angeles Times. The plan, which will likely be unveiled on Labor Day, concerns some business leaders who fear that a $4.50 increase in L.A.’s minimum hourly wage will hurt the economy and lead to job loss if business move elsewhere for cheaper labor.