Slouching Towards Oblivion

Wednesday, July 09, 2014

That's Odd

From Yahoo News via Democratic Underground:
Beginning in January of this year, 13 states individually increased their own minimum wages, creating a sort of natural experiment in which the remaining states could serve as a control group. All that was left was for someone to do the math, and the Center for Economic and Policy Research, building on research conducted earlier in the year by Goldman Sachs, delivered that in a report last week.

Of the 13 states that raised their minimum wages, all but one saw job growth in the first five months of 2014. To be sure, that’s a small achievement in an environment where the national economy is adding something on the order of 250,000 jobs per month.

The really interesting finding is that the states that raised the minimum wage saw job growth that was, on average, higher than states that did not. The 37 states that did not raise the minimum wage at the beginning of this year saw employment increase by .68 percent. Those that did raise the wage saw employment increase by .99 percent.
So those hippie-dippie mush-brained libruls were right - again?  And what about all the death and destruction foretold by all those "grownups" on the other side? - the ones who were so absolutely certain that raising the Minimum Wage even a tiny bit threatened the natural order of the universe, and would surely call down the wrath of a vengeful Mammon to lay waste the land and curse all humankind forever, and blah blah fucking blah.

Is it at all weird that none of this has popped up on MSNBC's Morning Blow or on DumFux Business Channel?  Or is it just that I've missed too many of their riveting, insightful and mission-critical segments lately?

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