California, the poorest state in the union, didn’t get that poor because it elects economic geniuses. Their governor definitely isn’t one. The latest plan will decimate the state’s workforce by costing more than 400,000 private-sector jobs, according to a new study that used a “conservative” estimate.
The non-profit Employment Policies Institute found the job loss will not spread evenly with more than half in only two industries: accommodation and food services, and retail trade.
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Also revealed is that for every 10 percent the minimum wage rises, employment drops by two percent with low-income earners hit the hardest.
Last year, socialist Governor Jerry Brown signed a bill mandating the raise of the state’s minimum wage to $15 across the board by 2023. It comes in gradually but rises with inflation so the state will never get ahead of it.
Minimum wage jobs aren’t meant to be career paths but Marxists like Brown want everyone to get a living wage with the money coming from the government. Since the government has no money, it takes it from the most successful groups and passes it down to the unsuccessful groups. Eventually, the successful groups stop working as hard and the flow of money ends.
We all know this is the inevitable result. Economists stated last year when the bill was signed into law that it could cost 5 to 10 percent of low-income, low-skilled workers their jobs.
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