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Old 07-21-2019, 07:41 PM
aapbolt aapbolt is offline
Cooper's Law
 
Join Date: Feb 2008
Posts: 4,644
Default Govt economic report

The new economic report from the federal govt on raising the minimum wage notes that it will cost between 0-3.5 million new unemployed. The report stipulates that the unemployment rate will only grow by 1.3 million. However, the long term impact will increase employment because people will be earning more money and thus will spend more which will increase demand and thus increase employment. Plus many of those who lose their jobs will get jobs at the higher rate of pay which will also increase demand thus creating more jobs.