There have been marches, Globalist funded campaigns and near riots by people demanding that States set a minimum wage. In theory, it sounds great that everyone should be earning at least a guaranteed amount, but the sad truth is that it actually ends up costing “low-wage” workers.
Because each small business employer can only afford a certain amount for a job done, the studies show that less hours were offered after Seattle introduced a $13 minimum wage limit. By looking at the numbers over a period of time, it turns out that these workers ended up earning $1500 less per year.
The minimum wage is being pushed by Global corporations, not because they care about the workers and workers rights, but because it is a surefire way of making sure that small businesses do not become larger businesses. It is all about market control, and as usual it is the poorer in society who suffer the most.
As reported in the Young Conservatives:
Seattle raised the minimum wage to $13 and guess what happened? Low-wage workers were the ones who got hurt. According to a new paper from the National Bureau of Economic Research:
Using a variety of methods to analyze employment in all sectors paying below a specified real hourly rate, we conclude that the second wage increase to $13 reduced hours worked in low-wage jobs by around 9 percent, while hourly wages in such jobs increased by around 3 percent. Consequently, total payroll fell for such jobs, implying that the minimum wage ordinance lowered low-wage employees’ earnings by an average of $125 per month in 2016. Evidence attributes more modest effects to the first wage increase. We estimate an effect of zero when analyzing employment in the restaurant industry at all wage levels, comparable to many prior studies.
Basically, low-wage workers just lost $1,500 a year.