Perfect Example Of Why Job Losses From Minimum-Wage-Hikes Are Being Underestimated, ‘Bigly’

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There is a perfect example of why job losses from minimum wage hikes are being underestimated in a big way. Over the past several months, people have highlighted a number of economic studies that analyze the potential negative impact, in terms of job losses, that may be expected as a result of the minimum wage hike that are happening across the country.

Key Takeaways:

  • 2.6 million jobs will be lost around the country over the next several years as states phase-in minimum wage hikes that have already been passed.
  • A 10 percent increase in the real minimum wage is associated with a 0.3 to 0.5 percentage-point decline in the net job growth rate.
  • Minimum wage hikes trigger pay increases across the pay scale, not just for the employees earning minimum wage.

“Over the past several months, we’ve highlighted a number of economic studies analyzing the potential negative impact, in terms of job losses, that may be expected to result from the state-mandated minimum wage hikes that are currently being implemented around the country.”

http://www.zerohedge.com/news/2017-03-21/negative-impact-minimum-wages-hikes-jobs-being-underestimated-heres-why

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