Don Surber: Oakland raises unemployment:
In November the people of Oakland, California, voted to increase minimum wage to just under $25,000 a year for a full-time job ($12.25 an hour). Their vote triggered the loss of jobs, businesses and hours for workers.
A survey by the Employment Policies Institute found that 27% of owners say it is somewhat or very likely the forced pay hike will force them to close.
47% said the hike forced them to raise prices.
30% said the hike forced them to reduce worker hours.
17% said the hike forced them to lay off workers.
The institute told the tale of a few employers: Read more here...