Los Angeles $15/hour minimum wage will have “little effect on poverty”? You don’t say!! [Darleen Click]

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Shocking, I tell you!

The Board of Supervisors commissioned the study by the Los Angeles Economic Development Corp. to look at the potential economic effect of gradually raising minimum pay to $ 15 an hour.

The city of Los Angeles earlier this month approved a plan that will increase the minimum wage within the city limits from $ 9 to $ 15 by 2020. County supervisors will vote on a similar plan on Tuesday.

A draft version of the report was released earlier this month, including results of a survey of 1,000 businesses around the county. The final report, released Friday night, added summary observations and included more a detailed breakdown of the survey results.

The economists concluded that as a result of the wage increase, “many prices will increase, including those that lower-income households commonly face; wages will rise for those in minimum wage jobs that remain employed; employment opportunities for those at the bottom of the skills ladder will be diminished” and “employment growth will slow.”

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