As a special service to liberal visitors, Moonbattery.com will now offer a kindergarten-level course in economics. Lesson One:
Question: What happens when you raise the minimum wage?
Job gains in the Chicago-area leisure and hospitality sector slumped to a five-year low after the Windy City’s $1.75-an-hour minimum-wage hike took effect in July, Labor Department data show, confirming similar impacts in San Francisco in Los Angeles.
Annual employment gains at restaurants, hotels and other leisure-sector venues averaged just 1.1% from August through November, about half the pace seen in 2014 and the weakest since the summer of 2010.
The timing of the slowdown coincides with the 21% jump in Chicago’s minimum wage from $8.25 to $10 an hour. The wage will get another bump to $10.50 an hour on July 1 and eventually climb to $13 by 2019.
Each jump in the minimum wage will produce a corresponding jump in unemployment, thus securing more government dependency votes for the malevolent but generous (with other people’s money) Democrat Party.
On a tip from Torcer.