A report from the Empire Center for Public Policy indicates that New York could lose a minimum of 200,000 jobs with the enactment of a statewide $15 minimum wage hike.
Worse, the 200,000 estimate seems a rather rosy outlook considering the more likely estimate hovers around half a million jobs.
Via the NY Post:
While a statewide minimum of $15 would be enormous by historical standards, the governor and other advocates frame it as win-win — good for the economy in general and for low-wage workers in particular.
In reality, most economic research points in precisely the opposite direction. Low-wage, low-skill workers actually have the most to lose in the “fight for $15.”
Enacting a statewide, all-industry $15 minimum would cost New York at least 200,000 jobs — including 95,600 in New York City, with proportionately larger employment decreases in upstate regions. That’s the key finding of a research paper to be released today by my organization, the Empire Center for Public Policy, and the Washington, DC-based American Action Forum.
Continues on MenRec