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February 20, 2016
Hey, Seattle! How's that $15 minimum wage working out for ya?
The American Enterprise Institute blog reveals the not very surprising news that 10 months into Seattle's radical experiment of boosting the minimum wage to $15 an hour over a period of years, the city has suffered the worst job losses since the Great Recession. Now that the first Seattle minimum wage increase has been in effect for more than ten months, and as local employers brace for the additional minimum wage hikes that will eventually increase their annual labor costs per full-time minimum wage worker by 61% and by a whopping $11,300 (from the increase in hourly labor costs from $9.32 to $15 an hour), are there any noticeable effects so far on the city’s labor market? Is Seattle’s radical experiment with the highest-ever minimum wage in US history serving as a “model for the rest of the nation to follow”? Or is Seattle serving as an “economic canary in the coal mine” for other cities and states (and the country) considering...(Read Full Post)