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Thread: Seattle's new minimum wage hasn't raised retail prices

  1. #11
    Veteran Member Southern Dad's Avatar
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    Your source for this topic is an opinion website called Discussionist? Really? Since we are going with opinion...

    As I Predicted, Seattle's Minimum Wage Rise Is Reducing Employment - Forbes

    Why raising the minimum wage in Seattle did little to help workers, according to a new study - The Washington Post

    The Bitter Lesson From Seattle's Minimum Wage Hike - Investor's Business Daily

    -----------------------------------------------------------------------------------------

    Now let's look at a news source and go beyond the headline.

    $15 wage law has little impact on Seattle’s thriving labor market, report suggests

    Much of that success, though, can be attributed to trends separate from the minimum-wage law itself, such as the growth of Seattle’s tech sector and its construction boom, according to a new report that University of Washington researchers presented to the City Council on Monday.

    The report looks at records from Washington state’s Employment Security Department from when the law was passed, in June 2014, through the end of last year.

    $15 wage law has little impact on Seattle?s thriving labor market, report suggests | The Seattle Times
    Keep in mind that minimum wage in Seattle hasn't been raised to $15 per hour. It was raised from $9.96 to $11.14 per hour the first year. It will not be $15 per hour until 2021.

    The multistep law went into effect in April 2015, when the city’s minimum wage became $10 or $11, depending on business size, tips and benefits. Another hike occurred on Jan. 1, 2016. By 2021, the minimum will be $15 per hour for all workers.

    During the period covered in the report, typical low-wage workers in Seattle saw their pay increase from $9.96 per hour to $11.14 per hour. Their employment rate and their number of hours increased, as did their overall earnings, according to the report.

    $15 wage law has little impact on Seattle?s thriving labor market, report suggests | The Seattle Times
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  2. #12
    Nuisance Factor Yeti 8 Jungle Swing Champion, YetiSports 4 - Albatross Overload Champion, YetiSports7 - Snowboard FreeRide Champion, Alu`s Revenge Champion boontito's Avatar
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    Quote Originally Posted by Spookycolt View Post
    It was a serious question.

    Why 15 bucks an hour and not 20?

    There must be a reason so what is it?
    It was a response with just as much merit as your question though.
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  3. #13
    Scucca Æthelfrith's Avatar
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    Quote Originally Posted by Dittohead not! View Post
    After a year, Seattle's new minimum wage hasn't raised retail prices



    Saw this while in Seattle recently. Thought it was interesting. Sometimes, prophecies of gloom and doom don't come true.
    Thanks for the source. I'm not particularly surprised. There's a long history of empirical analysis which rejects significant price effects. There are numerous explanatory factors for that, but two obvious ones are: organisational slack (where minimum wage increases encourage efficiency savings) and underpayment (where workers aren't paid according to productivity criteria). Both suggest that efficiency, equity and minimum wages go hand in hand. This typically ensures the doom and gloom merchants aren't high up in the economic rationality stakes

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    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by Southern Dad View Post
    Your source for this topic is an opinion website called Discussionist? Really? Since we are going with opinion...

    As I Predicted, Seattle's Minimum Wage Rise Is Reducing Employment - Forbes

    Why raising the minimum wage in Seattle did little to help workers, according to a new study - The Washington Post

    The Bitter Lesson From Seattle's Minimum Wage Hike - Investor's Business Daily

    -----------------------------------------------------------------------------------------

    Now let's look at a news source and go beyond the headline.



    Keep in mind that minimum wage in Seattle hasn't been raised to $15 per hour. It was raised from $9.96 to $11.14 per hour the first year. It will not be $15 per hour until 2021.
    One word: Australia.

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    Telecastin' Blues63's Avatar
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    Quote Originally Posted by Spookycolt View Post
    So you can't answer my question as I thought.

    Typical.

    I thought he did.

  6. #16
    Veteran Member bajisima's Avatar
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    Yet today at 538 there is this.

    "In January 2016, Seattle’s minimum wage jumped from $11 an hour to $13 for large employers, the second big increase in less than a year. New research released Monday by a team of economists at the University of Washington suggests the wage hike may have come at a significant cost: The increase led to steep declines in employment for low-wage workers, and a drop in hours for those who kept their jobs. Crucially, the negative impact of lost jobs and hours more than offset the benefits of higher wages — on average, low-wage workers earned $125 per month less because of the higher wage, a small but significant decline."

    https://fivethirtyeight.com/features...-gone-too-far/
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  7. #17
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    Quote Originally Posted by Dittohead not! View Post
    After a year, Seattle's new minimum wage hasn't raised retail prices



    Saw this while in Seattle recently. Thought it was interesting. Sometimes, prophecies of gloom and doom don't come true.
    Mr. Not,

    Interesting, but not surprising. Businesses will always find ways to compete, and in the case of Seattle, while wages for the lowest earners have increased 3%, hours worked have decreased 9%. Ergo, those workers are taking home an average of $125 less per month.

    Study: Seattle's minimum wage increase goes horribly wrong

    https://www.nytimes.com/2017/06/26/b...imum-wage.html
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  8. #18
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    Quote Originally Posted by bajisima View Post
    Yet today at 538 there is this.

    "In January 2016, Seattle’s minimum wage jumped from $11 an hour to $13 for large employers, the second big increase in less than a year. New research released Monday by a team of economists at the University of Washington suggests the wage hike may have come at a significant cost: The increase led to steep declines in employment for low-wage workers, and a drop in hours for those who kept their jobs. Crucially, the negative impact of lost jobs and hours more than offset the benefits of higher wages — on average, low-wage workers earned $125 per month less because of the higher wage, a small but significant decline."

    https://fivethirtyeight.com/features...-gone-too-far/
    Bajisima,

    Sorry, didn't mean to step on your point.

  9. #19
    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by Kallie Knoetze View Post
    Mr. Not,

    Interesting, but not surprising. Businesses will always find ways to compete, and in the case of Seattle, while wages for the lowest earners have increased 3%, hours worked have decreased 9%. Ergo, those workers are taking home an average of $125 less per month.

    Study: Seattle's minimum wage increase goes horribly wrong

    https://www.nytimes.com/2017/06/26/b...imum-wage.html
    That is the part that many miss. They read the headlines. It sounded great to say that the minimum wage went to $15 per hour. Never mind that it still hasn't been fully implemented. Never mind that 29 hours at $13 per hour does not beat 40 hours at $10 per hour.
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  10. #20
    Scucca Æthelfrith's Avatar
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    Quote Originally Posted by Southern Dad View Post
    That is the part that many miss. They read the headlines. It sounded great to say that the minimum wage went to $15 per hour. Never mind that it still hasn't been fully implemented. Never mind that 29 hours at $13 per hour does not beat 40 hours at $10 per hour.
    Why haven't you referred to an empirical study into employment and hours effects? We'd often expect hours to fall as low wage workers often have backward bending labour supply curves (e.g. target income youngsters who are studying; families forced into multiple employments to make ends meet etc)

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