According to a report from nonprofit research group Employment Policies Institute (EPI), California’s plan to raise the state minimum wage to $15 an hour by 2023 will cost the blue state some 400,000 jobs. Moreover, low-paid workers will be hardest hit.
As reported by Fox News, EPI analyzed trends in employment from 1990 to 2017 to project the effect of a $15 state minimum wage. They found that with each 10% increase, California brought a corresponding 2% decline in employment. “The impact was larger, 5%, for lower-paid workers,” notes Fox. “By those estimates, the EPI projects that the pending $15 minimum wage hike would cost California 400,000 private sector jobs, with heavy losses in both the foodservice and retail sectors.”
Once again, the Left preaches “compassion” for the worker to create legislation that actually translates into a loss of hundreds of thousands of jobs, and an economic disaster, specifically for those they claim to care most about. – READ MORE
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