Today is the start of National Small Business Week, whereby government officials pay the usual platitudes to small businesses and their importance to our nation’s economy. Throughout the week, the Small Business Administration (SBA) will hold events and festivities in cities around the country to celebrate the small business owners who drive innovation and create jobs.
A new, independent study from a Seattle economist reveals the impact of a $15 minimum wage in Seattle may be much greater than indicated in a University of Washington study requested and funded by the Seattle City Council.
The organization behind the push for a $15 minimum wage in Seattle has announced it will begin collecting signatures to put a city charter amendment mandating the high wage on the ballot. The group, 15 Now, needs 30,957 signatures to qualify the measure for the November ballot.
When voters approved an ordinance requiring certain employers in the City of SeaTac to pay a $15 minimum wage last year, supporters celebrated the victory and vowed to build on the momentum. Seattle was quickly marked the next target, and city leaders eagerly jumped on the bandwagon, promising to increase the minimum wage for at least some workers in the city to $15.
A new report ranking the economic competitiveness in the 50 states shows that while Washington’s economic performance over the past ten years (2002-2012) has been better than most states, the future looks grim.
Starbucks CEO Howard Schultz recently warned an increase in the minimum wage could result in a reduction in the company’s famously generous employee benefits. Schultz argues minimum wages should take into consideration the “total compensation” an employee receives, which in the case of Starbucks employees includes full health coverage, free food, bus passes, 401K, education assistance, stock rewards, bonuses and more—even for part-time workers.
In a story on Seattle rent prices yesterday, the left-leaning Publicolaasserts that the “most interesting” data point from an analysis of Seattle’s rental-market is that, “The law of supply and demand is, it turns out, an actual thing." It seems the analysis shows that just as this most basic tenet of economics predicts, demand is inextricably linked to supply. The