The Elder Statement : That LA Minimum Wage Really Is Causing Job Losses You Know

Thursday, August 20, 2015

Minimum Wage Destroying Jobs In L.A.--Left Doesn't Care

elderstatement.com August 20, 2015 That LA Minimum Wage Really Is Causing Job Losses You Know , 0 Comments

That LA Minimum Wage Really Is Causing Job Losses You Know

By Tim Worstall, Aug 20, 2015 Forbes

We’re continually told that raising the minimum wage doesn’t cause job losses. Because, despite standard theory telling us that people will buy less of something that goes up in price, labour is different, you see? No, don’t argue, it just is different and don’t let any of those nasty Republican types tell you different. We can indeed just fix prices in a market economy and everything will be sweetness and kittens will gambol happily in the sun. No doubt, just no doubt at all.

Except that’s not how the evidence is turning out and here’s a lovely example from Los Angeles. This isn’t the recent announcement that the LA City minimum wage will rise to $15 an hour (something that even the city commissioned report into its effects says will reduce employment in LA City), this is from the earlier rule that raises the minimum wage in hotels and the service companies that supply them. As Mark Perry points out:

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