Seattle was the first city to implement this minimum wage increase, and LA has come to be the 2nd. Only time will tell if this was a terrible decision.
42 percent of surveyed employers were “very likely” to reduce the number of employees per shift
44 percent reported that they were “very likely” to scale back on employees’ hours to help offset the increased cost of the law
More than 43 percent of respondents said it was “very likely” they would limit future expansion in Seattle in response to the law
One in seven respondents is even “very likely” to close a current location in the city limits
Full article here:
http://viral.buzz/seattles-15-minimum-wage-crash-for-many-their-new-wage-is-zero/
To me, in the end, employers will cut employees hours even more so since obamacare was enacted. They may even be forced to lay off a few employees, causing unemployment rates to go up. Cost of living will go up to offset wage increase. Small businesses who can't afford it will be forced to close, or move out of the city. Which in return, means corporate giants will continue taking over the ma&pa shops of america.
