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The data's not conclusive, but it's also not neutral -- the data shows that, on average, workers gained about $680 per year, even after factoring in the extra r
by Argothair 10y ago
The data's not conclusive, but it's also not neutral -- the data shows that, on average, workers gained about $680 per year, even after factoring in the extra risk of unemployment. That's a much, much better result than Bloomberg and the WSJ and mainstream economists were predicting. If you ask a neoliberal economist what the effects of a minimum wage hike will be, they'll tell you that, on average, the hike will destroy wealth. So far, on average, this hike has been creating wealth.
Does it make sense to wait for more than 18 months of data before rolling out a nationwide wage hike? Sure. But the results so far are good, and they support extending the wage hike to a dozen more cities so that we can collect the best data possible.