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After Hiking the Minimum Wage, Mass. and New York Find Mass Job Loss

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After hiking their minimum wages, the states of New York and Massachusetts have found that, far from being a net positive, the wage hikes have resulted in job loss and economic chaos.

The states have discovered job loss, store closures, and reduced hours of work for low wage workers, according to Forbes.

The magazine recently noted that the “ugly side” of the Minimum Wage outweigh the good parts.

 

“The ugly side is the payroll tsunami they unleash for smaller businesses, already under stress from soaring healthcare costs and rents,” Forbes wrote.

  • For some of these businesses, the minimum wage hikes tip the balance between staying in business and going out of business.

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