Monday, November 12, 2012

Minimum Wage Hike To Cost Jobs

The increase in Albuquerque's minimum wage passed last Tuesday will cost city government $1 million/year, the city estimates. And there will be fewer employees because part timers, typically paid the minimum, will be paid more. The city to find that money somewhere and it will come through hiring fewer people. Also, people now paid the minimum can expect a small increase.

So much for helping people at the low end of the wage scale.

This comes from a conversation overheard the other night between an economist and a city official.

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