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Politics : Formerly About Advanced Micro Devices

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bentway

To: Tenchusatsu who wrote (843177)	3/16/2015 5:50:13 PM
From: combjelly	1 Recommendation Read Replies (2) of 1574091

They think they can get away with it because well-designed studies have shown little or no increase in unemployment when the minimum wage goes up. When you take 2 states that are close together, with similar demographics and mix of industries, raise the minimum in one and not another, you see unemployment increase by maybe 0.1% or less. In this case, with a 3.9% unemployment rate, there probably won't be much of a change at all. It is like the article i-node had posted. If you click through to the article on the Seattle restaurateurs, you get a more nuanced picture. Yes, some restaurants are shutting down. But for a lot of different reasons. Undoubtedly some because of the hike in minimum wage. But more are opening than closing so it isn't as dire as those few paragraphs seem to imply. Now minimum wage increases are always phased in. No one really knows if this is needed or not, but no one wants to run that particular experiment. The point is that when theory conflicts with reality, you shouldn't ignore the reality to cling to a theory.

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