These 19 States Just Hiked The Minimum Wage: Here Come The “Unintended Consequences”
by Tyler Durden
ZeroHedge.com
01/02/2015
The reason why the BLS has not yet revealed the reality of the shifting US labor force, and why there is virtually no real wage growth across the US, is that the BLS simply backs into statistically goal-seeked results, using seasonal and statistical (birth/death) adjustments to smooth a trendline to beat a monthly bogey used by algos to bid stocks higher. Meanwhile, the reality at the micro level, is that increasingly more Americans are seeing their work status transformed from full-time to part-time status, earning less in the process, having no healthcare and retirement benefits and virtually no job security. As a result, starting this year, some 19 states just increased their minimum wage threshold, with 3 more states due to follow later in 2015. This takes place at the state level because for numerous reasons, there simply wan’t enough of a consensus to pass this at the Federal level.
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