julia pakJul 13, 2023

pt 1/Full article titled "Opinion| Higher minimum wages may increase homelessness" in WSJ:

West Hollywood, home to the legendary Sunset Strip, now has a new claim to fame: It has the highest minimum wage in America.

At the beginning of July, the city’s wage floor rose to $19.08 an hour, surpassing even Los Angeles and San Francisco. The predictable arguments followed, in the hallowed tradition of America’s minimum wage wars.

Employers said they couldn’t afford the higher payroll costs and would be forced to cut back on staff. “If we go out of business, that means workers will lose their jobs, too,” restaurant owner Lucian Tudor told the Los Angeles Times.

Progressives retorted that, thanks to the minimum wage, vulnerable workers are finally able to enjoy a semi-decent standard of living.
pt2 coming..
link:https://www.washingtonpost.com/opinions/2023/07/13/higher-minimum-wages-increase-homelessness/?utm_medium=social&utm_campaign=wp_opinions&utm_source=twitter

Higher minimum wages may increase homelessness

Vulnerable people who are most likely to end up homeless are also the most likely to be let go when employers trim their payrolls.

The Washington Post
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pt.2 /...Both these arguments can be true, of course: Even if employers pare their payrolls by firing some folks, the workers who keep their jobs may be better off. Balancing the interests of the two groups is a tricky business — especially because there’s no agreement on even the basic question of how many jobs are lost to the minimum wage. Supporters of higher minimums can point to studies that seem to show only small effects or even positive effects. Opponents have their own studies showing significant job loss, as well as the common-sense observation that when the price of almost anything goes up, people will consume less of it.
I won’t rehash these arguments any further: You’ve probably heard them and already formed a strong opinion. Instead, I want to introduce a new argument: that higher minimum wages may be contributing to homelessness, a problem that is, of course, particularly bad in California.

pt3 coming

Jul 13, 2023 at 11:50pmWeb