If only someone could have predicted this…
A new study published by University of Washington economists found that, as conservatives long argued and as basic economics would seem to have predetermined, Seattle’s unprecedented minimum-wage hike actually hurt the very workers it sought to help.
Specifically, the economists found, as businesses were forced to devote more of their revenue to payroll, they scaled back workers’ hours by nearly 10 percent.
So even though the minimum wage had ticked up from $11 to $13 — on its way to $15 in 2021 — Seattle’s low-income workers ended up bringing home $125 less each month in 2016.
It’s worth noting that these findings are preliminary, not yet subjected to the scrutiny of peer review.