Seattle’s Minimum Wage Experience A Cautionary Tale
When the price of a thing goes up, people buy less of it. We experience this every day when buying groceries, gasoline or anything else. So why are people surprised when it applies to the labor market?
We at the Show-Me Institute have written about the negative effect of increases to the minimum wage for some time. (You can read some of it here and here and here.) We were saddened but not surprised to learn that in Seattle, the increased minimum wage is decreasing employment while increasing unemployment and joblessness. One author wrote,