Target Employees Won The ‘Fight For $15’ but Weren’t Ready for the Trade-Offs
Reason cites Senior Fellow Ryan Young on minimum wage:
But the bottom line is that wage increases do not exist in a vacuum. And that’s not just true at Target. Minimum wage increases are “not a net good, and zero-sum at best,” according to a recent analysis from the Competitive Enterprise Institute (CEI), a free market think tank. In a report released earlier this month, CEI found that mandated wage increases include a wide number of trade-offs, including reduced non-wage compensation, fewer job openings, reduced hours, increased automation, higher insurance co-pays, less vacation and personal time, and reduced employee discounts.
“The negative economic trade-offs for minimum wage workers, unfortunately, cancel out most of the paycheck gains,” says Ryan Young, CEI senior fellow and author of the report.