While most people think that ZeroHedge is trash news, they did report on this rather factually.
The University of Washington (located in Seattle, FYI) has been doing a study on minimum wage. They published their findings for Seattle this month, which you can read in detail if you are so inclined, or don’t believe me.
– Minimum wage per hour was increased from $9.47 to $11 in 2015
– Minimum wage per hour was increased from $11 to $13 in 2016
After the $13 wage:
– Reduction of low wage jobs by 6.8%
– Those who retained their jobs were working less hours (9.4% less)
– Low-wage workers on average saw a reduction of $125 per month (6.6% drop in income)
Less people working for less hours and taking home less pay.
Positive intended outcome? Well, I will let you be the …