State minimum wage hikes could cost 290,000 jobs, study finds

[WestVirginiaRebel]

Washington Examiner:

Minimum wage increases on state ballots this election cycle could cost 290,000 jobs, according to a new analysis.

 

Ballot initiatives in Arizona, Colorado and Maine to raise the minimum wage to $12 an hour and one in Washington to raise it to $13.50 would slow job growth, the right-of-center American Action Forum concluded Friday.

 

"While initiatives to raise the minimum wage are popular, it is important to understand that they have a cost," author Ben Gitis wrote. "The low-wage, low-skill workers who labor advocates want to help are the very workers who bear this cost, as hundreds of thousands would be unable to maintain their current job or attain a new one."

 

The group, which advocates for conservative policies, based its estimates on a recent study by Texas A&M economist Jonathan Meer and University of Santa Cruz economist Jeremy West, which included estimates of lost job growth based on the size of minimum wage increases.

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Economic ignoramuses cast their votes.

[Draggingtree]

Four States Vote to Punish Low-Skilled Workers With Minimum Wage Hikes

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Tags The EntrepreneurPolitical TheoryValue and Exchange

4 hours agoRyan McMaken

Last week, a majority of voters in four states approved new mandated increases to the statewide minimum wage.

 

For those workers whose productivity remains above the newly mandated wages, they will likely keep their jobs and see no change. However, for teenagers, the poorly educated, and others with few skills, the new higher wage will price them out of a job.

 

In the short term, even some workers with productivity levels below the mandated wage may keep their jobs. For a time. In the medium to long term, however, those workers will either be replaced by automation, or employers will simply cease to hire low-productivity workers.

How to Really Increase Wages

https://mises.org/blog/four-states-vote-punish-low-skilled-workers-minimum-wage-hikes