By Matt Rooney | The Save Jersey Blog
Democrats formally rolled out their bone-headed, arbitrary, illogical, ruinous and yes, as Joe Kyrillos pointed out, RADICAL new $15 minimum wage hike plan on Friday, Save Jerseyans. It’d be a stake through the heart of New Jersey’s fragile job market.
Don’t take my word for it.
You need to check out this timely analysis from the American Enterprise Institute (AEI) regarding Seattle’s recent $15 experiment. Here’s an excerpt:
Early evidence from the Bureau of Labor Statistics (BLS) on Seattle’s monthly payroll employment, the number of unemployed workers, and the city’s unemployment rate through December 2015 suggest that since last April when the first minimum wage hike took effect: a) the city’s employment has fallen by more than 11,000, b) the number of unemployed workers has risen by nearly 5,000, and c) the city’s jobless rate has increased by more than 1 percentage point (all based on BLS’s “not seasonally adjusted basis”). Those figures are based on employment data for the city of Seattle only (not the Seattle MSA or MD), and are available from the BLS website here (data are “not seasonally adjusted”). […]”
10,000 jobs in three months…
“Ruinous” isn’t strong enough. Dumpster fire is more appropriate!
cc Trenton legislators…