UC Berkeley Touts $15 Minimum Wage Law, Then Fires Hundreds Of Workers After It Passes

Friday, April 22, 2016
By Paul Martin

Superstation95.com
Apr 22, 2016

Hundreds of employees at the University of California at Berkeley are getting schooled in basic economics, as the $15 minimum wage just cost them their jobs. Too bad liberal elites “fighting for $15” don’t get it.

A week after California Gov. Jerry Brown signed the state’s $15 minimum wage boost into law, UC Berkeley Chancellor Nicholas Dirks sent a memo to employees announcing that 500 jobs were getting cut.

Coincidence? Not likely.

The school was already in financial trouble — it ran a $109 million deficit last year and is projecting a deficit of $150 million this year. But number crunchers at the school had to have factored in the higher mandated wages when making their layoff decisions.

Those workers might want to have a chat with the folks at UC Berkeley’s Center for Labor Research, who just days before Brown signed the wage-hike bill released a study touting the minimum wage as a boon to low-income household breadwinners.

After that report came out, Ken Jacobs, chairman of the UC Berkeley center, told the Los Angeles Times, “This is a very big deal for low-wage workers in California, for their families and for their children.”

It is a big deal, as well, to those soon to be out of work UC Berkeley workers.

But why is anyone surprised about jobs cuts following a wage hike? It’s one of the most basic laws of economics. Any high school kid taking Econ 101 can explain it: If you raise the price of something, demand goes down.

The Rest…HERE

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