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Old 07-21-2019, 08:10 PM
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dannybolt dannybolt is offline
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Join Date: Jan 2008
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Originally Posted by aapbolt View Post
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.
Do you have a cite for that? Sounds like an interesting read.
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