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The Center for American Progress reports:
Think a higher minimum wage is a job killer? Think again: The states that raised their minimum wages on January 1 have seen higher employment growth since then than the states that kept theirs at the same rate.
The minimum wage went up in 13 states Arizona, Connecticut, Colorado, Florida, Missouri, Montana, New Jersey, New York, Ohio, Oregon, Rhode Island, Vermont, and Washington either thanks to automatic increases in line with inflation or new legislation, as Ben Wolcott reports in his analysis at the Center for Economic and Policy Research. The average change in employment for those states over the first five months of the year as compared with the last five of 2013 is 0.99 percent, while the average for all remaining states is 0.68 percent.
Digging deeper, all but one of those states are experiencing increases in employment, and nine of them have seen growth above the median rate.
(Score: 2) by FatPhil on Friday July 04 2014, @05:32PM
Consider yourself up-modded. It shouldn't be rocket science, but the above doesn't seem to be appreciated by too many people in decision-making positions. It's the fallacy of trickle-down economics, which deep down has never been anything but the economics of greed.
And I say that as someone relatively rich in a fairly poor country, who tries to make sure as much of my expenditure as possible is into the hands of local companies, and even local market traders. (Who sorted me out with a stunning piece of tenderloin yesterday, probably the best I've had in my life. Beef tartare, and steak for the rest of the weekend for me and my g/f! And that includes breakfast - it was huge!)
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves