Almost 40% of private biz will lay off employees if min. wage increases

Posted by: ST on March 19, 2014 at 8:45 pm
Minimum wage

Woman holds a minimum wage sign before an Occupy Albany rally in NY on 5-29-12. Image via Mike Groll/AP.

Via Fox News:

WASHINGTON –  Thirty-eight percent of America’s private employers say they will lay off workers if Congress agrees to raise the minimum wage to $10.10, according to a new survey by the nation’s largest privately held staffing firm.

Fifty-four percent of employers who are paying their workers the current minimum wage of $7.25 per hour say they would reduce hiring, while 65 percent say they would raise prices on their goods and services to offset the bumps in pay.

Of the 1,213 business and human resources professionals surveyed by Express Employment Professionals last month – which include whose who pay their employees the minimum wage as well as those who do not – 19 percent say they’d fire workers, 39 percent would reduce hiring and 51 percent would raise prices on their services to make up the salary costs.

I’m telling ya, the ‘good news’ (sarcasm) just keeps rolling in for the American worker under the policies (and proposed policies) of the Obama administration and their minions in Congress, doesn’t it?

Of course, Democrats will read the survey and spin the hell out of it with one or more of the following explanations/justifications:

1) Whatever losses in jobs will be “offset” by more people supposedly being “lifted” out of poverty if a mandatory minimum wage increase is passed.

2) Some people might lose their jobs, but other people will be hired elsewhere at the higher minimum wage rate (another variation of the “offsets” argument).

3) Most of these businesses could raise their hourly rates if they wanted to but they’re too greedy and don’t want to share more of their wealth with their employees.

4) It won’t be near 40% who lay off workers.  That number is just overblown.

5) WINGNUTS!  KOCH BROTHERS!!

And the beat goes on.

Of course, nationally, the likelihood that a minimum wage increase will pass is very slim – but it doesn’t matter to the left, whose sole purpose in bringing this up in an election year is to demonize Republicans and buy votes.   Modern Democrats don’t have much going for them in the way of actual success when it comes to policies and actions that lead to investment and job creation, but their sad predictability on this issue is always a sure thing.  The more strings on the American worker they can pull the better – not for the worker, but for the opportunistic left wing politician who strives to keep him/herself in power by any means necessary

Would love to hear from some private business owners in the comments about how raising the minimum wage would impact their workforce.  Thoughts?

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2 Responses to “Almost 40% of private biz will lay off employees if min. wage increases”

Comments

  1. Drew the Infidel says:

    In a free market economy fair market value is where willing seller meets willing buyer. Third party intervention makes such transactions impossible. An example:

    Your town passes an ordinance that says anyone mowing yards must be paid $50 but a neighborhood kid offers to do it for $20. Since the law says $50 and it is not worth it to you at that rate you pass it up and you both lose. Thus the fallacy of the minimum wage that prices low-skilled entry level workers out of the job market.

  2. Carlos says:

    Hey, I’m telling ya, the King Kenyan only has a couple more years to destroy the country.