Libs claimed that raising the minimum would mean higher standard of living for employees. They were warned by much smarter people that it didn't work that way. Seattle did it anyway and now there are 5,000 less jobs and 3.5 million less hours of work. The average low wage employee is actually getting about $125
less each month. Good job, libs.
The left has little understanding of how businesses operate and less understanding of basic human nature.
They always think that people and companies will continue to behave the same way regardless of what politicians do.
"In the world's most unsurprising news, a new study shows that radically increasing the minimum wage in a city leads to fewer hours of minimum wage labor being worked. FiveThirtyEight lays out the cold hard math:
Monday’s report looks at the impact of the second wage increase under the law: the January 2016 hike to $13 an hour for large employers. This time, the findings look very different: Compared to a counterfactual in which Seattle didn’t raise its minimum wage, the number of hours worked by low-wage workers (those earning less than $19 an hour) fell by 9.4 percent over the first nine months of 2016, and the number of low-wage jobs fell by 6.8 percent. Cumulatively, those add up to the losses of 5,000 jobs and 3.5 million hours of work. The average low-wage employee, they found, saw his or her monthly paycheck shrink by $125, or 6.6 percent.
Yikes! Of course, as anyone who has ever managed hourly employees could tell you, this makes total sense: labor costs are monitored constantly, with employees being sent on their breaks when business slows and fewer workers are needed. You do this because excess labor costs massively cut into relatively thin profit margins at places like grocery stores and fast food joints; increasing the hourly cost of labor only exacerbates this problem."
BREAKING: Minimum Wage Hikes Kill Jobs, Duh