Seattle Minimum Wage Increase Doesn't Help
The Daily Sheeple reports Seattle's recent minimum wage increase doesn't seem to have helped much:
"According to a group of economists who were hired by the city to figure out what effects the wage hike has had on workers, the average hourly wage for effected workers has bumped up from $9.96 to $11.14, but that would have likely happened anyway since Seattle’s economy was already rapidly improving. They also found that while some workers were earning more, fewer people have jobs, and those who are working have fewer hours.
And none of this takes into account how much more businesses have to spend on their workers. They still have to raise costs, which are passed on to the consumer, and result in a higher cost of living that would nullify any benefits of a minimum wage hike."
This should come as no surprise.