[Ed. – It will cost more than that, as a major part of the generally prohibitive economic environment in the state. There’s a whole demographic that can’t survive without market-sensitive job compensation — because that demographic needs cheap stuff to live on. It’s a passage most of us go through, needing cheap fast food, cheap gas, Wal-Mart, and so forth. You literally cannot have those things and also pay everyone who works more than he or she is actually worth to the consumer market. California proposes essentially to ban being young and/or working poor — which guarantees that millions of people will never climb into the middle class.]
The study from the Employment Policies Institute (EPI) conducted an analysis of employment trends from 1990 through 2017 and found that California’s minimum wage hike could trigger the loss of 400,000 private-sector jobs by the time it goes into effect in 2022.
“The job loss is not spread evenly. Slightly more than one-half of the job loss is projected to be in two industries: accommodation and food services, and retail trade,” the report states.
The EPI study found that for every ten percent minimum wage increase the state passed, employment declined two percent. California’s minimum wage increase had a greater impact on lower-income workers, where employment among that group decreased five percent.
The projected job losses represented 4.1 percent of employment in the 31 California counties in this study.