Comments on: Bad Economic News http://melissablogs.com/2008/12/03/bad-economic-news/ Information Pollination Sat, 11 Feb 2012 21:50:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Big Al http://melissablogs.com/2008/12/03/bad-economic-news/comment-page-1/#comment-12529 Big Al Sat, 10 Jan 2009 02:09:25 +0000 http://www.melissaclouthier.com/?p=11754#comment-12529 This isn't any suprize. In fact I've been telling anybody that would listen it was coming for the last couple of years. We just upped the minimum wage again (step two of a three step, apx. 40% increase in the minimum wage). You can't add labor costs to small business without causing job loss in that segment, especially THAT much of a cost. And it's why I keep telling everybody this won't be changing anytime soon. Round three is coming this summer, so don't expect any improvement until late 2010 - 11. When you add increased labor cost with resulting job loss, skyrocketing fuel and food costs, and the downturn in the housing market, what do you get. THIS. Exactly what we've got. And the sad thing is it is almost entirely government caused. This wasn't any free market at play, this was government playing with free markets. This isn’t any suprize. In fact I’ve been telling anybody that would listen it was coming for the last couple of years. We just upped the minimum wage again (step two of a three step, apx. 40% increase in the minimum wage). You can’t add labor costs to small business without causing job loss in that segment, especially THAT much of a cost.

And it’s why I keep telling everybody this won’t be changing anytime soon. Round three is coming this summer, so don’t expect any improvement until late 2010 – 11.

When you add increased labor cost with resulting job loss, skyrocketing fuel and food costs, and the downturn in the housing market, what do you get. THIS. Exactly what we’ve got.
And the sad thing is it is almost entirely government caused. This wasn’t any free market at play, this was government playing with free markets.

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