Tuesday, September 29, 2015

Seattle's Minimum Wage Law: Delight Or Dilemma? - Forbes

By Mike Patton, Sep 28, 2015 Forbes

The American experiment has created one of the greatest nations in the history of the world. On a smaller scale, each state, county, and city is like an independent laboratory where officials can test the efficacy of various actions. In Seattle, Washington, leaders decided to increase the minimum wage to $15.00 per hour, more than double the national minimum. In this article, we’ll examine the specifics of the law, how it will be phased in, and its effect on Seattle’s labor market. Will raising the minimum wage be a job killer or an economic boon?

Seattle’s Minimum Wage Law: An Introduction

Shortly after taking office, Seattle Mayor, Edward Murray formed the Income Inequality Advisory Committee (IIAC) to address the issue of compensation for those who work within the city. The committee, comprised of labor, business, and non-profits, agreed to raise the minimum wage to $15.00 per hour to be phased in over several years. The new law divides businesses into two groups – more than 500 employees (Schedule 1) and 500 or fewer employees (Schedule 2). To determine a company’s total number of employees, only those working in the United States are counted. The new minimum wage law only applies to those working within Seattle’s city limits, regardless of their immigration status (Seattle is a Sanctuary City for illegal immigrants). Schedule 1 employers are required to implement the law over a three to four year period, while Schedule 2 employers have five to seven years. Let’s discuss how the minimum wage will be phased in for each group.

Read More: http://www.forbes.com

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