$15 an hour unemployment will crater employment!!!
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
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I'm glad you got a raise. Just don't come crying to me when you figure out that you haven't got anymore purchasing power than you did before.
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Don't cry when they invent the robot french fry maker either!PurpleJ said:I'm glad you got a raise. Just don't come crying to me when you figure out that you haven't got anymore purchasing power than you did before.
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Keep working that side hustle and 70 hours a week to have a full 3 months of bills in the bank.PurpleJ said:I'm glad you got a raise. Just don't come crying to me when you figure out that you haven't got anymore purchasing power than you did before.
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Thanks bro!2001400ex said:
Keep working that side hustle and 70 hours a week to have a full 3 months of bills in the bank.PurpleJ said:I'm glad you got a raise. Just don't come crying to me when you figure out that you haven't got anymore purchasing power than you did before.
Grats on the big raise!
Big feast at Sizzler tonight?
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Taco Bell. Dumbass.PurpleJ said:
Thanks bro!2001400ex said:
Keep working that side hustle and 70 hours a week to have a full 3 months of bills in the bank.PurpleJ said:I'm glad you got a raise. Just don't come crying to me when you figure out that you haven't got anymore purchasing power than you did before.
Grats on the big raise!
Big feast at Sizzler tonight? -
Hondo has Shitpoasted hard.
He deserves it.
And what does this have to do with the price of Pot in Eastern Montana anyway? -
Don't worry, this guy is on it.salemcoog said:Hondo has Shitpoasted hard.
He deserves it.
And what does this have to do with the price of Pot in Eastern Montana anyway?
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Bless your heart!2001400ex said:
Taco Bell. Dumbass.PurpleJ said:
Thanks bro!2001400ex said:
Keep working that side hustle and 70 hours a week to have a full 3 months of bills in the bank.PurpleJ said:I'm glad you got a raise. Just don't come crying to me when you figure out that you haven't got anymore purchasing power than you did before.
Grats on the big raise!
Big feast at Sizzler tonight? -
Swede, Swede, Swede, Swede!GrundleStiltzkin said:
Don't worry, this guy is on it.salemcoog said:Hondo has Shitpoasted hard.
He deserves it.
And what does this have to do with the price of Pot in Eastern Montana anyway?
