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fukhueson@lemmy.worldBanned from community to News@lemmy.world · 8 months ago

Study: Increasing minimum wage does not reduce jobs

www.publicnewsservice.org

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Study: Increasing minimum wage does not reduce jobs

www.publicnewsservice.org

fukhueson@lemmy.worldBanned from community to News@lemmy.world · 8 months ago
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A new report shows minimum wage increases have had little effect on the number of jobs in Maryland and nationwide. While the rhetoric around increasing the minimum wage often comes with the caution it will reduce low-wage employment, a new review of decades of research showed most studies found no job losses after the state or local minimum wage is raised. Ben Zipperer, senior economist for the Economic Policy Institute and the review's co-author, said raising the minimum wage has unquestionably benefited workers. ...
  • DragonTypeWyvern@midwest.social
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    8 months ago

    Guess we need to get rid of business owners then.

    • deltreed@lemmy.world
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      8 months ago

      So if you owned a business, you’d like to be removed from that position?

      • DragonTypeWyvern@midwest.social
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        8 months ago

        I do own a business. I’m the sole and only employee, as it should be unless I want to establish a partnership.

        • deltreed@lemmy.world
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          8 months ago

          So you’re self employed. This study doesn’t apply to you.

          • DragonTypeWyvern@midwest.social
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            8 months ago

            It’s going to blow your mind once you find out about cooperatives.

            • Avid Amoeba@lemmy.ca
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              8 months ago

              Or that businesses that employ people in the classic employer-employee way are effectively price-fixing the labor market. The larger they are, the stronger the effect.

            • deltreed@lemmy.world
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              8 months ago

              It’s going to blow your mind to find out how often new businesses fail.

              • ShepherdPie@midwest.social
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                8 months ago

                Are you just spouting our random things thinking it makes your earlier point more valid?

              • DragonTypeWyvern@midwest.social
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                8 months ago

                ???

                What, exactly, do you think your point is?

                • deltreed@lemmy.world
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                  8 months ago

                  Business owners take the risk. Not everyone can start a business and take on that risk. Most aren’t even profitable for years after. That’s my point.

                  • DragonTypeWyvern@midwest.social
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                    8 months ago

                    😂

                    “I took a managed risk dischargable in bankruptcy once so I can exploit people forever!”

              • joshhsoj1902@lemmy.ca
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                8 months ago

                How many new business fail?

                • joshhsoj1902@lemmy.ca
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                  8 months ago

                  I looked it up and it seems like the survival rate of new businesses is about 78% in the US.

                  https://www.bls.gov/opub/ted/2024/1-year-survival-rates-for-new-business-establishments-by-year-and-location.htm

                  The first year seems to be the hardest and each year after that survival rates get better and better.

                  This data suggests that after 10 years nearly 35% of business are still in business.

                  https://www.bls.gov/opub/ted/2024/34-7-percent-of-business-establishments-born-in-2013-were-still-operating-in-2023.htm

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