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Seattle's $15 Minimum Wage May Be Hurting Workers, Report Finds (usatoday.com)
As companies look for ways to cut costs, Seattle's $15 minimum wage law may be hurting hourly workers instead of helping them, according to a new report. From a USA Today article: A report (PDF) from the University of Washington (UW), found that when wages increased to $13 in 2016, some companies may have responded by cutting low-wage workers' hours. The study, which was funded in part by the city of Seattle, found that workers clocked 9 percent fewer hours on average, and earned $125 less each month after the most recent increase. "If you're a low-skilled worker with one of those jobs, $125 a month is a sizable amount of money," Mark Long, a UW public-policy professor and an author of the report told the Seattle Times. "It can be the difference between being able to pay your rent and not being able to pay your rent."
A ton of research has been done on minimum wage and the consensus is that is has negligible effect on employment. Sowell is basically the go to economist on the neocon side, and is a fan of people like Hayek.
I feel for the business owners, but maybe these businesses are not viable if they can't pay people a living wage.
"The world is a construct of forceful imagination. Those who don't know walk around in the reailties of those who do"