A comprehensive new study commissioned by Montgomery County Executive Isiah Leggett (D) reveals that approximately 47,000 jobs would be lost if the county were to raise its minimum wage to $15 an hour.
Before commissioning the study, Legett vetoed a bill proposed by political rival and county council member Marc Elric, the overzealous Democratic politician who introduced the bill to raise the minimum wage from its current $11.50 per hour.
The bill was staunchly opposed by business interests across Maryland who insisted that a minimum wage hike would slow down growth and destabilize the job market in the county.
It turns out they were right.
“PFM [the Philadelphia consulting firm that conducted the study] found that increasing the minimum wage to $15 would result in an aggregate loss of $396.5 million of income in the county by 2022 as businesses laid off employees, cut remaining employee hours and benefits, and suspended plans to invest in new locations and hire additional workers,” reports The Washington Post.
This latest study echoes the findings of a study conducted by economists at the University of Washington in June. Researchers learned that Seattle’s $15 minimum wage hike negatively impacted low-wage workers.
Liberals claim to the be the party of facts, data, and science. And yet, they conveniently ignore strong evidence that undermines their dogmatic narratives about the economy, race, and culture.