California Learns an Economics 100 Lesson the Hard Way

California is the fast food capital of the world with more than 70 percent of residents eating drive-through food each week. So it was a grand progressive experiment when a year ago the state raised its minimum wage for its 700,000 fast-food workers by a full quarter to $20 an hour.

The numbers are in on this union-sponsored experiment to help workers. It flopped.

A study from the private Berkeley Research Group found that California’s $20 minimum wage hike for fast food workers raised prices by 14.5% – nearly double the national average. It also caused the loss of 10,700 jobs.

High minimum wages destroy jobs for the poorest and least skilled workers, and somehow Californians think that’s “fair.”

Word of warning: don’t try this in your state..

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