• 31 mins WeWork Sues SoftBank For Withdrawing $3 Billion Insider Payoff
  • 19 hours Solving Transportation’s Biggest Problem
  • 22 hours Big Banks Could Win Big On Fed Small Business Bailout
  • 23 hours Trump Increases Pressure On Venezuela
  • 1 day Researchers Create Organic Battery
  • 2 days Gold Is Still A Safe Haven, But Not Very Alluring
  • 2 days China Is Buying Up Billions Of Barrels Of Cheap Crude Oil
  • 3 days Are Gold Stocks Going To Bounce Back?
  • 3 days The Politics Of A Pandemic
  • 4 days What Does CHina’s EV Slowdown Mean For The Battery Metals Sector?
  • 5 days COVID Report Cards Will Brand Businesses Forever
  • 5 days Trump Tweet Sends Oil Soaring 25%
  • 6 days Why The Coronavirus Economic Crash Is Worse Than You Think
  • 6 days Is A Global Currency Necessary?
  • 7 days America Has Shed 500,000 Millionaires Since The Coronavirus Lockdown Began
  • 7 days Trump Wants Another $2 Trillion Economic Intervention
  • 8 days The Surprising Businesses Deemed “Essential” During The Coronavirus Lockdown
  • 8 days Priceless Van Gogh "Spring Garden" Painting Stolen
  • 8 days Oil Falls To $20 For First Time In Nearly Two Decades
  • 8 days COVID-19 Could Be The End Of U.S. Coal
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

Chart of the Day: California Minimum Wage Hike History

California Governor Jerry Brown launched a Political Earthquake proposing a series of minimum wage hikes every year between now and 2022 when the minimum wage hits $15.

The Huffington post reports "The new law will boost paychecks for millions of California workers. More than 40% of California workers earn less than $15 dollars an hour."

The very next line, written by Peter Dreier, professor of politics at Occidental College is economic nonsense: "By putting more money in people's pockets, the pay increase will improve the economy by increasing consumer spending in businesses throughout the state."

Inquiring minds just may be interest in seeing a chart of California minimum wages hikes over time, all the way back to 1912. I just happen to have that chart.


California Wage Hike History

California Minimum Wage History

Data for the above chart is from the California Department of Industrial Relations, History of California Wage Hikes.

Data points through 2022 reflect the new wage hikes.

The idea for this post comes from reader "Rand" who emailed the links and a Google Docs chart. I re-entered the data into Excel.

As for Peter Dreier's ridiculous comment, the only things thing this hike is guaranteed to do are as follows

  • Make the US more uncompetitive
  • Increase the use of robots
  • Drive up prices
  • Crucify those on fixed incomes
  • Hammer cities with increased costs of doing routine maintenance

Where does it stop? Please look at my chart and tell me. Then tell me why we should not expect another round of outsourcing and increased use of robots.

 

Back to homepage

Leave a comment

Leave a comment