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Re: Minimum Wage Hike Results

By: DGpeddler in POPE IV | Recommend this post (0)
Sat, 13 Aug 16 7:25 PM | 50 view(s)
Boardmark this board | POPES NEW and Improved Real Board 		Msg. 10303 of 47202
(This msg. is a reply to 10274 by Zimbler0)
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This has been going on for years. You
would think that by now people would
be able to understand what happens
when businesses are forced to pay
more for workers. I have said this
for years and am told I don't know
what I am saying.

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The above is a reply to the following message:
Minimum Wage Hike Results
By: Zimbler0 in POPE IV
Sat, 13 Aug 16 3:57 AM 		Msg. 10274 of 47202

Minimum Wage Hike Results

http://www.investors.com/politics/commentary/the-bitter-lesson-from-seattles-minimum-wage-hike/

Raising the minimum wage is one of those wonderful-sounding ideas that, whenever tried, unfortunately never quite works the way it was promised. To its credit, the Washington Post has noticed.

The Post recently highlighted a new study from a group of economists who were commissioned by the city of Seattle to look at that city's minimum wage hike from $9.96 an hour to $11.14 an hour. What they found was enlightening.

To begin with, the economists said, some of the workers weren't helped at all, since their pay would have likely gone up anyway with experience and tenure on the job.

But the city didn't bargain for what happened to other workers it had sought to help: "Although workers were earning more, fewer of them had a job than would have without an increase," the Post said. "Those who did work had fewer hours than they would have without the wage hike."


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(Article does continue. Zim.)

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