New democrat led minimum wage hike leads to job losses (unemployment rate, salary)
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Right in the middle of democrat central Seattle, there is now a requirement to pay workers at least $15 an hour. With large businesses and franchises having to meet this salary requirement now, businesses are closing their doors as service businesses cannot survive under this government regulation.
"My overall sales were something like 15 percent ahead after the first minimum wage bump, and now they’re about 12 percent ahead this year," Mike Jacobs, an owner of a Wetzel's Pretzels franchise, told KQED. "It isn’t because I’m such a great manager or smart guy, but the buying public has more money in their pocket."
No matter how hard the right tries, the $15 minimum wage in Seattle has not cost jobs (unemployment is around 3%) and it's not even in full effect yet.
Using democrat logic, $30 an hour job would benefit the economy even more. Seriously, why not double down and double $15 to $30? Actually paying employees is literally free.... go for $40 since it's so wildly successful.... Said the reporter who has never ran a small business.
It's fairly common knowledge that an increase in wages will cause a temporary employment problem. The thing is, the market eventually catches up and then we have a scenario where those people now are earning more anyway.
No economic strategy is without any flaw. The perfect libertarian utopia risks people not having enough to live well and the more progressive ideal can put private business owners in some tough spaces. Reality's a *****.
Using democrat logic, $30 an hour job would benefit the economy even more. Seriously, why not double down and double $15 to $30? Actually paying employees is literally free.... go for $40 since it's so wildly successful.... Said the reporter who has never ran a small business.
Since I live in Seattle and know - this was a $15. minimum wage phased in slowly over several years. It is not fully done even still, it has years to go. And the unemployment rate in Seattle is around 3%. The cost of living in Seattle is higher because growth in Seattle is extremely high, something like 236 people a day are arriving. The minimum wage increase is specific to the Seattle area, not surrounding suburbs.
Right in the middle of democrat central Seattle, there is now a requirement to pay workers at least $15 an hour. With large businesses and franchises having to meet this salary requirement now, businesses are closing their doors as service businesses cannot survive under this government regulation.
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