State minimum wage increases phasing in around the country will result in 1.8 million job losses with "minimal" increases in workers' salaries, a report from the American Action Forum reports.
According to the center-right group, 22 states and the District of Columbia will implement minimum wage increases this year – but it'll come at a cost of 383,000 job losses.
"The full minimum wage increases over the next several years will cost 1.8 million jobs," policy analysts Ben Gitis and Curtis Arndt contend. "When combined with recent previous minimum wage increases in some of the same states, the total loss comes out to 2.6 million jobs."
"In the end, the additional earnings transferred from the job losers to the job keepers are minimal," and under minimum wage increases, "for each job loss, total wage earnings only rise by $6,900," the report states.
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Nowhere does the article mention that those job losses will generate millions of dollars in direct job loss benefits at the state level, or welfare benefits at the state and federal levels, or loss of Affordable Care Act benefits through non-payment of premiums, which will put an additional burden on health care providers who are stuck with eating the losses, except for the small amounts provided by government to offset them.
ReplyDeleteJust more unintended (but really intended wink wink) consequences by progressives/liberals/democrats/morons.
ReplyDeleteThey are redesigning two McDonalds locations in North Salisbury by Petsmart and the one at Pecan Square. I would be willing to bet when the new stores open, they will me totally automated. Before too long cashiers will be a thing of the past and even the cooking process with be automated.
ReplyDeleteTotally agree, you will pay at a kiosk, get a ticket, take it to a door or window and enter your ticket and out will pop your order, and if some thing is wrong...tell it to the computer...lol!
Delete12:22
ReplyDeleteWhy would they report the truth
It means they are a failure
We will still give them their trophy lol
This is a surprise to no one. Simple, basic economics. Those pushing for the increases are doing to obtain the results 12:22 points out. Total enslavement and control of the less capable and the less ambitious.
ReplyDeleteThe anticipated reaction has started. Burger King has installed ordering kiosks in their lobby that eliminates an employee to take your order plus gives you a 3% discount. McDonalds in Denton now has their kiosks up and running.
ReplyDeleteYou know you guys could actually look at some of the peer reviewed research on this topic.
ReplyDelete3% of a $10 food order is 30 cents. I'd rather have the face to face with an employee.
ReplyDelete6:23 - That's part of the logic; the kiosks don't get$15/hour to do whatever they want, they are unthinking machines doing exactly what they're told - no "mistakes".
ReplyDelete