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$15 an hour unemployment will crater employment!!!
2001400ex
Member Posts: 29,457
in Tug Tavern
This dude is awesome. Still fighting the good fight, in the face of being ridiculously wrong.
Sure, it's lovely that unemployment in Seattle dips under 3%. But an attempt to tie that drop in the unemployment rate to the minimum wage isn't going to work. For we can as easily note that the unemployment rate has dropped everywhere in the US over this same time period and the minimum wage hasn't risen everywhere over that time period. We've not even got a consistent correlation between minimum wages and unemployment that is.
Worth noting what my original prediction was. Specifically I pointed out that it would not lead to some howling wasteland where once an economy stood. Rather, that raising the price of low end labour would lead to less low end labour being employed.
https://www.forbes.com/sites/timworstall/2017/04/05/seattles-2-9-unemployment-rate-tells-us-nothing-about-the-effects-of-seattles-minimum-wage-rise/#1b18da4f68b8
But back in 2014....
It's not difficult to outline some of the effect that this new $15 an hour minimum wage in Seattle is going to have. And I, for one, would rather hope that people are starting to study that labour market right now, so we can get a good idea of what it is like before that wage comes in. And then we can go back when it's fully implemented and see what the effects have been. For my prediction is that the effects are not going to be good and it would be rather useful in future to have the evidence that large rises in the minimum wage really aren't a good thing.
https://www.forbes.com/sites/timworstall/2014/06/03/we-can-predict-the-effects-of-seattles-15-an-hour-minimum-wage/#1accb1bf4064
Sure, it's lovely that unemployment in Seattle dips under 3%. But an attempt to tie that drop in the unemployment rate to the minimum wage isn't going to work. For we can as easily note that the unemployment rate has dropped everywhere in the US over this same time period and the minimum wage hasn't risen everywhere over that time period. We've not even got a consistent correlation between minimum wages and unemployment that is.
Worth noting what my original prediction was. Specifically I pointed out that it would not lead to some howling wasteland where once an economy stood. Rather, that raising the price of low end labour would lead to less low end labour being employed.
https://www.forbes.com/sites/timworstall/2017/04/05/seattles-2-9-unemployment-rate-tells-us-nothing-about-the-effects-of-seattles-minimum-wage-rise/#1b18da4f68b8
But back in 2014....
It's not difficult to outline some of the effect that this new $15 an hour minimum wage in Seattle is going to have. And I, for one, would rather hope that people are starting to study that labour market right now, so we can get a good idea of what it is like before that wage comes in. And then we can go back when it's fully implemented and see what the effects have been. For my prediction is that the effects are not going to be good and it would be rather useful in future to have the evidence that large rises in the minimum wage really aren't a good thing.
https://www.forbes.com/sites/timworstall/2014/06/03/we-can-predict-the-effects-of-seattles-15-an-hour-minimum-wage/#1accb1bf4064
Comments
Grats on the big raise!
Big feast at Sizzler tonight?
He deserves it.
And what does this have to do with the price of Pot in Eastern Montana anyway?
The real and only important question is what is the plan for those of us that make over minimum wage? If they raise minimum wage $7 an hour here then I am taking a $7 an hour pay cut.
Raising the minimum wage doesn't actually make the poor have more money because labor increase is passed on to consumers. It's just a nice way for the government to raise taxes.
If you had one fucking clue on the unintended consequences of the small business owners and employees outside King County, you'd be happy to go off, light a fucking match and DIAFF. That shit is fine for a locality that is able to sustain $35 entrees and 'craft' cocktails. And, no, that doesn't make sound poor. Just mindful of the masses in places like Twisp and Omak and Royal City.
Don't even get me started on the faggotry of mandated earned safe and sick leave for part-time workers and topless barristas.
And, yes, I know why I'm flagged.
Before you know it you can buy a house in 500 years.
They almost turned in their guns during the mandatory McCafe upgrade. It was $125k per store for just coffee equipment.
That totally automated system would cost more than a franchise, which was $144k cash at that time or roughly $1.2 million to have a new store built that the company still owned, of course.
Corporate fast food shops might go automated, but there is ZERO chance franchisees go along with it. Labor is only 20% and you hire a bunch of turds because it is minimum wage, no benefits, no vacation, etc. They will just adopt the Euro model of less workers, a livable wage, benefits, vacation, etc.
Regular people will own battleships before automated fast food joints are the norm.
One gay halfrican son. I guess you have a shot still...
Is his name @Dennis_DeYoung by chance?