"News" report about minimum wage
I was listening to KPOJ 620 when the news update came on. The update on northwest news reported that Washington State's minimum wage would be going up, and that this was "good news and bad news". The "news" reporter stated that the minimum wage would give a pay raise to some workers in Washington, "but would likely result in some small businesses laying off workers". This is a statement of opinion which has NEVER been backed up by fact. Numerous economic studies of the minimum wage have concluded that when a low minimum wage is raised, it results in MORE JOBS. This is because the pay raise for low income workers results in their spending more money into the local economy, thus increasing demand, and stimulating job growth.
- jim's blog
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