California cities BEGGING for minimum wage hike WAIVERS to protect FRAIL economies!!

A Fox News report talks to city officials and businesses who are sweating at the prospect of a minimum wage hike that has been approved by the idiot legislators in California.

Watch below:

Even left-wing economists are worried they’re screwing with the market too much!!

From the New York Times:

By moving toward a plan to raise the statewide minimum wage to $15 an hour by 2022, the state could raise living standards for millions of workers. But it could also increase unemployment among some of the very same economically marginal workers the wage increase is intended to help.

Many economists, even some on the left, worry that a potential loss of jobs in a number of cities where wages are comparatively low could largely offset, and perhaps even more than offset, the boon of higher incomes at the bottom of the wage scale.

“Just as the benefits of this policy are likely to be greater because it covers a greater share of the work force than for past minimum wage increases, the risk of these costs is also higher,” said Ben Zipperer, an expert on the minimum wage at the liberal Washington Center for Equitable Growth. “It’s very unclear how that’s going to stack up.”

San Francisco and San Jose, both high-wage cities that have benefited from the tech boom, are likely to weather the increase without so much as a ripple. The negative consequences of the minimum wage increase in Los Angeles and San Diego — large cities where wages are lower — are likely to be more pronounced, though they could remain modest on balance.

But in lower-wage, inland cities like Bakersfield and Fresno, the effects could play out in much less predictable ways. That’s because the rise of the minimum wage to $15 over the next six years would push the wage floor much closer to the expected pay for a worker in the middle of the wage scale, affecting a much higher proportion of employees and employers there than in high-wage cities.

“This is a big experiment,” said Arindrajit Dube, an economics professor at the University of Massachusetts at Amherst whose work has shown that modest minimum wage increases typically have limited effects on employment. “In areas like Fresno, a majority of workers are likely to be directly or indirectly affected.”

Well no one saw this coming except anyone with at least the slimmest understanding of supply and demand economics.


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