The Colorado minimum wage will actually drop this year, albeit by a tiny three cents to $7.25 an hour. Not enough to make much difference, but it's close to miraculous, as the wage is tied to inflation and is designed to increase every year.
Minimum wages are the kind of economically harmful populism that should never be put into law, but if it has to be law we should tie it to the unemployment rate rather than inflation. Lower the minimum wage as unemployment rises.
Minimum wages are the kind of economically harmful populism that should never be put into law, but if it has to be law we should tie it to the unemployment rate rather than inflation. Lower the minimum wage as unemployment rises.
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