How $15 wage is already killing Seattle jobs
Article excerpt below by NY POST editorial board
Seattle passed its $15 law in June 2014… Increases to $12, $12.50 and $13 an hour began taking effect for most employers this Jan. 1. The jumps will continue until the minimum hits the full $15 an hour in 2017 for some before it’s universal in 2019.
Yet even the early impact is harsh…
Before the minimum-wage hikes begin, Seattle employment tracked the rest of the nation — slowly rising from the 2008-09 bottom. But it started to plunge last spring, as the new law began to kick in. Furthermore, Seattle’s loss of 10,000 jobs in just the three months of September, October and November was a record for any three-month period dating back to 1990.
Meanwhile, employment outside the city limits — which had long tracked the rate in Seattle proper — was soaring by 57,000 and set a new record high that November…
Seattle is learning that it can’t unilaterally ignore basic economics. Businesses adapt to government dictates. To survive mandated pay hikes, they lay off employees, or avoid new new hires to control costs.
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