$15 an hour minimum wage killed Seatle’s job market
- Thread starter UsualName
- Start date
Its almost as if middle and low end wage workers spend their wages in the city where they live and don't sit on the cash or spend it on their winter homes in the Caribbean resulting in more liquidity in the local market. Must be the"pre-communism" right wingers talk about these days disguised as trying to bring vitality back to the middle-class.
Far be it from me to bring any actually financial intelligence to this thread of high fives, but we should really look at minimum wage jobs and unemployment, not total employment for the period of 2015-2019 (the data in which the increases were given). You know, because looking at total employment and including jobs that pay salary and a whole lot more, could muddy the data considerably.
Just saying.
Might be good to look at restaurant workers as a proxy, since they are predominantly the jobs that fall into these categories.
Just saying.
Might be good to look at restaurant workers as a proxy, since they are predominantly the jobs that fall into these categories.
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Here is a good article on the subject if anyone cares to read a balanced view on the subject:
https://publicpolicy.wharton.upenn.edu/live/news/2303-effects-of-the-15-minimum-wage-in-seattle
Not entirely bad, but not good either.
https://publicpolicy.wharton.upenn.edu/live/news/2303-effects-of-the-15-minimum-wage-in-seattle
Not entirely bad, but not good either.
They rent rooms in shared houses and apartments.
Edit: seems they rent parts of rooms also, OK if you are young and helps to be a couple.
https://www.cnbc.com/amp/2017/03/24/i-saved-100k-on-30k-salary-here-are-my-money-saving-tips.html
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Don’t believe your lying eyes. Check out Seatle’s GDP, too.
https://www.opendatanetwork.com/ent..._Area_WA/economy.gdp.per_capita_gdp?year=2017
I think we all get caught up in the argument the right makes about why stop at $15 an hour, why not $35 an hour etc. But the truth is the minimum wage is the floor of all wages and lifting it puts pressure to raise mostly all wages.
There are fundamentally sound reasons for lower unemployments rates in Seattle. A higher minimum wage is ironically part of lower unemployment rates, but not in the way Liberals without business sense would likely appreciate. Part of the improved employment situation is related to Washington State not having a personal income tax which is increasingly attracting investment and entrepreneurs from places like California and China. Another factor is lower real estate prices than California. Further, the record post world war II US economic expansion has helped.
I saved the main point for last and it important enough to get its own paragraph: Fast food establishments and certain other service providing businesses now predominately hire part time workers to get around Obamacare requirements and disgruntled staff absenteeism. In addition, the business model of “fast service” has been changed “Not so fast” service so these businesses can maintain key price points and profitability goals. Two part time employees versus one 1 full time employee equals improved employment rates, but in a city still full of homeless, are things really better? By the way, are all, or any, for that matter, of the many Seattle homeless counted in their unemployment rate? Probably not.
Nothing is free and money does not grow on trees, even for politicians. Money comes from somewhere, no matter how the shell game is played, whether it is hours worked per person, services offered to customers, or quality provided.