$15 Minimum Wage Causes Seattle Restaurants To Suffer Worse Job Loss Since Great Recession
According to a report released Sunday by the American Enterprise Institute (AEI), the $15 minimum wage has caused Seattle restaurants to lose 1,000 jobs — the worst decline since the 2009 Great Recession.
“The loss of 1,000 restaurant jobs in May following the minimum wage increase in April was the largest one month job decline since a 1,300 drop in January 2009, again during the Great Recession,” AEI Scholar Mark J. Perry noted in the report.
The citywide minimum wage increase was passed in June of last year. The measure is designed to increase the city minimum wage gradually to $15 an hour by 2017. The first increase under the plan was to $11 an hour in April.
According to the report, Seattle restaurants have already faced severe consequences as a result. In contrast, in the six years since the 2009 financial crisis, the industry has been recovering in areas without the $15 minimum wage.
Wild Thing’s comment.…….
What did they expect?
So predicted. But Progressives know they are never wrong. Wait until they decide to up it to $25 an hour. Then the restaurants will close. And Seattle will increase taxes to try to make up for the loss. A disastrous cycle.