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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
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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? -
A $15 minimum wage is fine. We were already heading towards complete corporate takeovers at near light speed. The $15 minimum wage will just stop what was prolonging the magic.
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. -
This $15 per hour minimum wage bullshit helps me understand why ISIS hates the west so much.2001400ex said: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
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.
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Just be sure to save a few dollars a week to home ownership in Seattle.
Before you know it you can buy a house in 500 years. -
I hate that I laughed at this.jecornel said:Just be sure to save a few dollars a week to home ownership in Seattle.
Before you know it you can buy a house in 500 years. -
Introducing Cafe X:
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In my very brief stint as a civilian I was a GM at McDonald's for a very close friend's family. They had 15 restaurants. They profited roughly $300k a week.priapism said:Introducing Cafe X:
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. -
But stillMosster47 said:
In my very brief stint as a civilian I was a GM at McDonald's for a very close friend's family. They had 15 restaurants. They profited roughly $300k a week.priapism said:Introducing Cafe X:
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. -
Does your close fren have any hot daughters? Looking to marry rich and retire. TIA.
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Black guy, white woman. Black guy's brother was a ball player, died young, left money to him. They act like they earned it though.
One gay halfrican son. I guess you have a shot still... -
Even better!Mosster47 said:Black guy, white woman. Black guy's brother was a ball player, died young, left money to him. They act like they earned it though.
One gay halfrican son. I guess you have a shot still...
Is his name @Dennis_DeYoung by chance? -
I love that you have one black friend.Mosster47 said:Black guy, white woman. Black guy's brother was a ball player, died young, left money to him. They act like they earned it though.
One gay halfrican son. I guess you have a shot still... -
I have two, so am I half as racist or twice as racist?Pitchfork51 said:
I love that you have one black friend.Mosster47 said:Black guy, white woman. Black guy's brother was a ball player, died young, left money to him. They act like they earned it though.
One gay halfrican son. I guess you have a shot still...
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What time's the gang bang?TurdBuffer said:
I have two, so am I half as racist or twice as racist?Pitchfork51 said:
I love that you have one black friend.Mosster47 said:Black guy, white woman. Black guy's brother was a ball player, died young, left money to him. They act like they earned it though.
One gay halfrican son. I guess you have a shot still... -
Employee:
"Hey boss...I'm currently making $15 an hour, but thanks to the new minimum wage laws, I can make $15 an hour at many other companies. Why should I keep working here?"
Boss:
"Because we're going to give you a raise. You will now be making $20 an hour."
Employee:
"Great! But what about the people who hold higher positions in our company that currently make $20 an hour?"
Boss:
"We're going to give them and everyone else a raise for the same reason."
Employee:
"I see. But how is the company going to afford paying more wages?"
Boss:
"Easy...we simply charge our customers more for our service. Our competitors will be forced to do the same thing, so it won't put as at a disadvantage."
Employee:
"Oh, I get it! We all get raises so that we can afford to pay for stuff that's now going to be more expensive since everyone is getting a raise!"
Boss:
"That's right."
Employee:
"But, isn't that completely pointless?"
Boss:
"It sure is, Timmy...it sure is." -
Economis is important
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Interesting. I know a family that owns 5 in Thurston County, and they profit nothing close to that.Mosster47 said:
In my very brief stint as a civilian I was a GM at McDonald's for a very close friend's family. They had 15 restaurants. They profited roughly $300k a week.priapism said:Introducing Cafe X:
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.
I also know they built the JITB ground up in Tillicum and Grand Mound for under $800k. -
First off you are comparing 15 to 5 and you are comparing McDonald's to Jack in the Box.TommySQC said:
Interesting. I know a family that owns 5 in Thurston County, and they profit nothing close to that.Mosster47 said:
In my very brief stint as a civilian I was a GM at McDonald's for a very close friend's family. They had 15 restaurants. They profited roughly $300k a week.priapism said:Introducing Cafe X:
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.
I also know they built the JITB ground up in Tillicum and Grand Mound for under $800k.
Shit poast, shit poaster.
Next try not to compare the NBA to the WNBA. -
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AgreeMosster47 said:.
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Finally something worthwhileMosster47 said:.
