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aubie in_bham Doubletree Resident (69.176.116.26) on 6/27/2017 - 10:06 a.m. says: ( 296 views , 5 likes )

"If everyone would stop buying WalMart chit and everything from China, it would make a difference"

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Shocking . . . minimum wage laws in Seattle kilt low wage workers . . .

 

Economic law holds . . .  

https://reason.com/blog/2017/06/27/seattle-surprise-when-you-raise-prices-b

Three years ago, the city of Seattle voted to raise its minimum wage to $15 per hour, in the name of human decency and basic fairness. The minimum wage went from $9.47 to $11 per hour in 2015, and then to $13 per hour in 2016. Similar policies have been enacted or considered in countless other cities.

Critics argued that boosting wages by bureaucratic diktat rather than increases in worker productivity or market demand would lead to fewer hours and fewer jobs for low-income and low-skill workers.

Now what The Washington Post calls a "very credible" study from researchers at the University of Washington's School of Public Policy and Governance finds that the critics were right.

Specifically, the study, published as a working paper by the National Bureau of Economic Research, concludes

the second wage increase to $13 reduced hours worked in low-wage jobs by around 9 percent, while hourly wages in such jobs increased by around 3 percent…. The minimum wage ordinance lowered low-wage employees' earnings by an average of $125 per month in 2016.

All told, that's the equivalent of 6,317 full-time jobs eliminated because of the latest hike.

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but, just increasing the wage with no correspondence change in the market demand won't cut it.
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