SHOCKER: Seattle Minimum Wage Hike is Already KILLING JOBS

minimum wage seattle

Seattle’s new minimum wage of $15 an hour hasn’t even gone fully into effect yet but the policy is destroying the city’s job market.

The New York Post reports:

How the $15 wage is already killing Seattle jobs

Attention, Gov. Cuomo: It’s time to rethink your “fight for $15.”

Spiking the minimum wage statewide may appeal to a Democrat eyeing a future run for national office. But it’s a bad idea for New York.

Don’t believe us? Look how it’s working out in real life at a town already en route to a $15 minimum — Seattle.

An American Enterprise Institute report sums up the results.

Spoiler alert: It’s not pretty.

Seattle passed its $15 law in June 2014. Starting last April, it raised the minimum from $9.32 (the state minimum wage) to $10 for certain business, $11 for others.

Increases to $12, $12.50 and $13 an hour began taking effect for most employers this Jan. 1. The jumps will continue until the minimum hits the full $15 an hour in 2017 for some before it’s universal in 2019.

Yet even the early impact is harsh.

The AEI study, worked up from Bureau of Labor Statistics’ monthly surveys, shows that, between April and December last year, Seattle saw the biggest employment drop in any nine-month period since 2009 — a full year into the Great Recession.

Chalk this up to the Bernie Sanders theory of economics.

(Image:Source)

You Might Like

Comments

As a privately owned web site, we reserve the right to edit or remove comments that contain spam, advertising, vulgarity, threats of violence, racism, anti-Semitism, or personal/abusive attacks on other users. The same applies to trolling, the use of multiple aliases, or just generally being a jerk. Enforcement of this policy is at the sole discretion of the site administrators and repeat offenders may be blocked or permanently banned without warning. Guest posting is disabled for security reasons.

You Might Like