Oregon Indexes Min Wage, Sky Doesn't Fall
As 13th floor readers know, I believe that indexing the minimum wage to inflation would be an excellent way to get Democrats and Republicans to ...
As 13th floor readers know, I believe that indexing the minimum wage to inflation would be an excellent way to get Democrats and Republicans to stop arguing about it all the time. Turns out six states -- Arizona, Colorado, Missouri, Montana, Nevada and Ohio -- are voting on this very idea next week.
Today's WSJ weighs in on the issue with a look (free WSJ link today!)at how indexing has worked in Oregon since 2002. There is, of course, an example confirming the business lobby's worst fears: a restaurant owner says he hires fewer employees because his profit margins are squeezed.
But here's the money quote:
Oregon's experience suggests the most strident doomsayers were wrong. Private, nonfarm payrolls are up 8% over the past four years, nearly twice the national increase. Wages are up, too. Job growth is strong in industries employing many minimum-wage workers, such as restaurants and hotels. Oregon's estimated 5.4% unemployment rate for 2006, though higher than the national average, is down from 7.6% in 2002, when the state was emerging from a recession.
We invite you to discuss and comment on this article using social media.
Arkansas Carries Out First Double Executions in U.S. Since 20004 hours ago
Ann Coulter's Backers at Berkeley File Lawsuit for Rescheduling Her Speech4 hours ago
In New Book, Kasich Attributes Trump's Election to America's Spiritual Decline3 hours ago
Missouri Puts Statewide Uber, Lyft Regulations in Drive3 hours ago
Before Wells Fargo Board Elections, Public Pension Funds Retract Their Support3 hours ago
The Emerging Strategy for Capitalizing on Women's Unprecedented Interest in Politics1 hour ago