If it wasn't bad enough, imagine what it will be like when this new minimum wage is fully implemented.
California's Unions Demand $15-An-Hour Minimum Wage; It Will Destroy A Third Of The State
California's Unions Demand $15-An-Hour Minimum Wage; It Will Destroy A Third Of The State
California's Unions Demand $15-An-Hour Minimum Wage; It Will Destroy A Third Of The State
In response to powerful government union demands, California Gov. Jerry Brown signed Senate Bill 3 today, a measure hiking California’s minimum wage 50 percent in six years from $10-per-hour to $15. For the third of state, about 13 million people, this new experiment in central planning will devastate already weak local economies.
California’s cost-of-living index stood at 134.3% of the national average in 2015, meaning that, compared to the rest of the nation, rent, food and services taken together cost about 34% more. Most of this higher cost is driven by the state’s myriad regulations, fees and arcane permits required before building homes, office buildings or manufacturing facilities. By comparison, Texas, the second most populous state, had a cost of living index of 92.6 last year. On average, California is 45% more expensive than Texas.
Just as the Golden State’s cost-of-living was the third-highest among the states, behind Hawaii and New York, there are large cost of living variations within California itself. Housing, goods and services in San Francisco, the emblematic progressive city, are 58% costlier than in the greater Stockton metro area, 84 miles to the east, where the official unemployment rate is 9.5%. The City by the Bay is an astounding 65 to 74% more expensive than is Bakersfield.
Down south on the border with Mexico, idyllic San Diego has a price premium of 36% on Bakersfield and 29% on Stockton. The Los Angeles metro region will set your budget back 31% more than would living in Bakersfield and 25% more than would Stockton.
California's Unions Demand $15-An-Hour Minimum Wage; It Will Destroy A Third Of The State