As the initial tangible sample size of data from Seattle’s grand thought experiment in raising the minimum wage to $15.00 per hour, calculated assertions begin to paint a bleak picture of the trickle down effect of pure maniacism.
According to an article in the Washington Post, a group of economists commissioned by the city have crunched the numbers and formulated some telling scenarios.
“The average hourly wage for workers affected by the increase jumped from $9.96 to $11.14, but wages likely would have increased some anyway due to Seattle’s overall economy. Meanwhile, although workers were earning more, fewer of them had a job than would have without an increase. Those who did work had fewer hours than they would have without the wage hike.”
It gets worse.
“They (the economists) attributed a wage increase of about $0.73 an hour for low-income workers to the minimum wage, and another $0.45 an hour to the improving economy. After the increase, Seattle’s workers got about seven more hours in a quarter. Workers’ hours increased even more in other parts of the state, however, leading the researchers to conclude that the minimum wage reduced the number of hours worked quarterly by 3.2, roughly 15 minutes each week.”
A common misnomer regarding Seattle’s global reputation is isolated in the city’s apparent association with corporate behemoths Boeing and Microsoft and the existence of a thriving business community. Contrary to common belief, Boeing’s corporate headquarters claim Chicago as home, while Microsoft’s flowing campus of turf, douglas fir, and rhododendron exists in the sleepy confines of Redmond, as the city produces a challenging setting for commerce. While Seattle is known as the hub of the Puget Sound Region, the majority of the population of the 4.2 million metroplex lives outside city limits. Unfortunately for area residents, the cultural and ideological influence of the city disperses through out the entire state, and causes havoc with initiatives and candidate campaigns.
Lost within the bombastic maelstrom of flawed economic policy, is the adverse effects on the service industry and the challenges that restaurants and establishments face in maintaining experienced and quality staff. Paying $6 for a beer is just not the same in the absence of a familiar face.
Read the full article here.
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