Minimum wage at $15/hour: Economic boon to San Diego?

Q: Will San Diego County’s economy benefit from an increase in the minimum wage to $15 over the next six years?

Bob’s Answer: No.

This additional 50 percent increase in wages over the next six years, a compound annual increase of 8 percent, will lead to layoffs and price hikes as well as force some employers to close their doors. Minimum-wage increases hurt the people they’re supposed to help. Students and first-time workers really need a training wage or they will not get that first job. The bottom line is this will hurt the economy, not help.

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