Re:Geneva adopts the highest minimum wage in the world at $2...
by Bostonian on Monday October 05, 2020 @05:06AM
(#24685885)
There are many factors affecting unemployment rates, which does not change the fact that other things being equal, a high minimum wage will raise them.
Re:Geneva adopts the highest minimum wage in the world at $2...
by clouddrover on Monday October 05, 2020 @06:54AM
(#24686458)
Claims without proofs aren't convincing. Clinging to an ideological position despite practical realities doesn't do anyone any good.
Does it? In the US, Washington has the highest minimum wage of any state. And Seattle has a higher minimum wage than the rest of Washington:
https://en.wikipedia.org/wiki/Minimum_wage_in_the_United_Sta...
And yet Seattle had a lower unemployment rate than the national rate pre-COVID:
https://www.deptofnumbers.com/unemployment/washington/seattl...
Seattle's minimum wage ordinance was introduced in 2015. Seattle's unemployment rate has fallen from 10.3% 10 years ago to 3.0% pre-COVID and is now at 7.9%:
https://data.bls.gov/timeseries/LAUMT534266000000004?amp%253...
The main problem everyone has at the moment is coronavirus, not a decent minimum wage.