The study by researchers at the University of Washington found that earnings for low-wage employees fell by an average of $125 per month in 2016 because the ordinance caused a 9% decrease in the number of hours worked. Meanwhile, hourly wages for low-wage jobs increased by about 3%, according to the study. The study was commissioned by the city itself and released Monday.
Link: http://fortune.com/2017/06/26/seattle-minimum-wage-policy-study/
and not cause significant economic disruptions. By the same token, we can't just cut all marginal income tax rates down to 1% and not cause all kinds of problems. Is that a good argument for not cutting taxes at all? Cutting the federal minimum wage has never resulted in sustained job losses. When it has been raised, it has also raised the wages of workers working at above the minimum rate. Beyond the data, it's a winner for the Democrats, as the American people overwhelmingly support raising it. It's something that gets broad support not only in blue areas, but red states. Deep red states. The Dems do a poor job of articulating how it benefits everyone when it's sensibly raised.
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heir chests, but it's a road block for people trying to enter the workforce and accelerates technology to replace human activity. It's stupid and should be eliminated. Wages should be driven by the marketplace. Once the government interferes with markets, there always are unintended consequences.
Just like squirrrels did not evolve fast enough to learn how to avoid cars, we humans have not evolved fast enough to remain economically relevant in the modern world.
it more expensive to hire low-wage workers. Perhaps the government should refrain from trying to set the market.
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Restuarant is a good example. It has opened in two highly expensive cities: San Fran and NYC. And it is fully automated. You order through an I-Pad, a screen announces what cubby hole your food is in, and you pick your food up behind a small door.
I'm interested in data and the data has long demonstrated that sensible minimum wage hikes do not produce what you hypothesize. This is what separates libertarian economists from legitimate economists.
wage. The minimum wage hurts those it's supposed to help the most.
"So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment."