A new study out by the Common Sense Policy Roundtable shows that proposed minimum wage hikes would be a huge job killer. Colorado has a proposal out there that would increase the Colorado minimum wage to $12.65 by 2022. This move could reduce employment in Colorado by 3.3%, or 90,000 jobs. It also could lead to a decrease in workforce participation. CSPR board member and entrepreneur Heidi Ganahl weighed in:
“Hundreds of employment estimates prove that increasing the minimum wage requirement causes a decline in employment opportunities rather than better economic status for most.”
Minimum wage jobs are not meant to be careers, but a stepping stone for a career. They’re great for teens and for those looking to enter the workforce. These jobs are a way to get some basic employment skills to move up in the world. The Colorado Families for a Fair Wage is behind the minimum wage hike ballot initiative. The coalition is comprised of familiar faces like the Colorado AFL-CIO, American Federation of Teachers, Colorado Education Association, SEIU Colorado and any other union that operates in the state. Unfortunately, the left would rather put union wages, which are often indexed to minimum wage, ahead of the very workers that the left is claiming to help.
Kristin Strom, executive director of CSPR, said about the study and the job-killing proposals, explained:
“Clearly, the best way to offer quality work and better life for lower-wage workers is not through government mandated wage increases, as both research and anecdotal evidence show us. We will remain focused on positive reforms that don’t just eliminate jobs for our Colorado workers but instead encourage additional growth, innovation and education- opening up new additional work opportunities for Coloradans of all ages and skill levels.”
It’s too bad that unions aren’t for the little guy anymore, but only care about filling their own coffers.