Like so much of the legislation that comes out of Sacramento, the hike in California’s minimum wage has been touted by Democrats as helping the poor while assuring businesses won’t be harmed. But, like much of that legislation, it’s likely to do the opposite.
In 2014 California’s minimum wage was $8 per hour. Today it is $10.50—a 31 percent increase in just three years. It’s scheduled to increase again in January to $11 an hour followed by annual dollar hikes until it reaches $15 an hour in 2022. That’s an 88 percent increase in the cost of unskilled labor in […]
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