Happ, Seattle, LA discussed on Bloomberg View

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The congressional budget office study that only fourteen analysis after that one that prominent one right there and and and one of several uh including listen of that was with at least according to the the fourth the conclusion of that's that the boost to them in a new minimum wage the they said ten dollars and ten cents an hour from as you describe seven and a quarter i found that the boost would increase the earnings of millions of workers by a total of thirty one billion dollars but is demonstrated it would also reduce employment by hundreds of thousands of jobs and that less than one dollar in every five of that thirty one billion would actually go to households living in poverty so the la riots tradeoff seino's a is interesting comment there that exactly right i take it i think that that that i think i think she got it right at him the adding that basically what happens when you increase the minimum wage and nontrivial amount uh you're not really helping the poor you're putting a lotta people out of work but you know for the bulk to keep their job you're you're put more money in their pocket that basically the trade off is so so so we'll be and in clear now you know in addition to the analysis that the congressional budget office put out in addition to analysis from economists state and federal minimum wage increases we now have a really solid evidence of what happ and when a city tried to increase its minimum wage by a really significant amount and so the question is uh you know around the country uh in other cities when city council get together to think about whether they should raise the minimum wage is whether the evidence out of seattle will will make them stricter hasn't been placed want to thank you very much for.

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