Toro
Diamond Member
- Sep 29, 2005
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A recent survey of employers by the Seattle Metropolitan Chamber of Commerce reveals what decades of research has already establishedincreasing the minimum wage comes with a cost.
The majority of the 283 employers that responded to the Chambers survey asking how raising the minimum wage to $15 an hour would affect their business say it would result in reduced employee benefits, reduced employee hours and positions, and increased prices.
Fifty percent of companies that participated in the survey said they would increase prices to offset a $15 minimum wage, while 43% said they would reduce or eliminate employee benefits. Sixty percent of companies said they would likely incorporate multiple changes in response to the higher wage, such as reducing or eliminating new jobs, raising standards for entry level positions, as well as reducing or eliminating employee benefits and increasing prices.
Seattle Employers Warn $15 Minimum Wage Will Come With a Hefty Price Tag | Washington Policy Center
Not surprising.