According to a report from nonprofit research group Employment Policies Institute (EPI), California’s plan to raise the state minimum wage to $15 an hour by 2023 will cost the blue state some 400,000 jobs. Moreover, low-paid workers will be hardest hit.
As reported by Fox News, EPI analyzed trends in employment from 1990 to 2017 to project the effect of a $15 state minimum wage. They found that with each 10% increase, California brought a corresponding 2% decline in employment. “The impact was larger, 5%, for lower-paid workers,” notes Fox. “By those estimates, the EPI projects that the pending $15 minimum wage hike would cost California 400,000 private sector jobs, with heavy losses in both the foodservice and retail sectors.”
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