"The minimum wage law very clearly is misnamed. The real minimum wage is zero. That is what many inexperienced and low skilled people receive as a result of legislation that makes it illegal to pay them what they are currently worth to an employer," wrote Thomas Sowell, noted economist, social theorist, and Senior Fellow at Stanford's Hoover Institution, in Basic Economics: A Citizen's Guide to the Economy.
The city of Seattle became the first big city to institute a $15 minimum wage which started in 2015 for the largest employers, who were mandated by the new law to pay any employee, regardless of their skill or experience, $15 an hour.
The socialists running Seattle ignore basic economics and believe the added income low-wage workers will have following the higher minimum wage will offset any added employment costs to businesses and there will be a minimal, if any, decrease in employment.
California is moving full speed ahead to become the first state in the nation to have a statewide minimum wage of $15 an hour.
In 2016, Gov. Brown signed into law a $15 an hour minimum wage in California.
A December 2017-released report from The Employment Policies Institute laid out the many consequences of raising the minimum wage to $15 across the most populous state in the country.
Between January 2017 and January 2023, California state law has a lower minimum wage for smaller companies than the $15 per hour for larger employers starting in 2022.
http://www.investmentwatchblog.com/unintended-consequences-why-15-an-hour-in-california-and-seattle-reduces-employment-for-low-wage-workers/
The city of Seattle became the first big city to institute a $15 minimum wage which started in 2015 for the largest employers, who were mandated by the new law to pay any employee, regardless of their skill or experience, $15 an hour.
The socialists running Seattle ignore basic economics and believe the added income low-wage workers will have following the higher minimum wage will offset any added employment costs to businesses and there will be a minimal, if any, decrease in employment.
California is moving full speed ahead to become the first state in the nation to have a statewide minimum wage of $15 an hour.
In 2016, Gov. Brown signed into law a $15 an hour minimum wage in California.
A December 2017-released report from The Employment Policies Institute laid out the many consequences of raising the minimum wage to $15 across the most populous state in the country.
Between January 2017 and January 2023, California state law has a lower minimum wage for smaller companies than the $15 per hour for larger employers starting in 2022.
http://www.investmentwatchblog.com/unintended-consequences-why-15-an-hour-in-california-and-seattle-reduces-employment-for-low-wage-workers/
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