• 313 days Will The ECB Continue To Hike Rates?
  • 313 days Forbes: Aramco Remains Largest Company In The Middle East
  • 315 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 715 days Could Crypto Overtake Traditional Investment?
  • 719 days Americans Still Quitting Jobs At Record Pace
  • 721 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 724 days Is The Dollar Too Strong?
  • 725 days Big Tech Disappoints Investors on Earnings Calls
  • 726 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 727 days China Is Quietly Trying To Distance Itself From Russia
  • 728 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 732 days Crypto Investors Won Big In 2021
  • 732 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 733 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 735 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 735 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 739 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 739 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 740 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 742 days Are NFTs About To Take Over Gaming?
  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