A study released by the Employment Policies Institute (EPI) affirms that Calfornia’s $15 minimum wage will engender the loss of 400,000 jobs, as reported by The Daily Wire.
Everything You Need To Know About the $15 Minimum Wage and Employment Declines
At this point in time, many experts and analysts believe the $15 minimum wage will completely encompass California by the year 2022. While many left wing politicians have lauded higher minimum wage as a productive measure, economists affirm the opposite. According to their observations, as California’s minimum wage increases by 10%, the employment of lower paid workers stagnated by 5%.
Despite progressive assertions that higher minimum wages shall provide aide to the poor and level an uneven playing field, the facts do not bear this out. Employees who work in retail, accommodation, and restaurant industries will take the hardest hits.
As stated by the EPI:
The Never-Ending Controversy Over Minimum Wage Increases
In spite of Employment Policies Institute’s finding, disputes over the benefits and pitfalls of raising the minimum wage still exist. Liberals and conservatives appear to have very different perceptions of the offshoots of minimum wage upsurges.
