Minimum wage, max stress in CA

The good and the bad of raising the federal minimum wage.

Interesting article in the WSJ on highest minimum wage in the country. The article states how the Emeryville, CA has the highest minimum wage rate of $16.30. There are pros and cons to increases in minimum wages. The CBO in a report in July stated that a $15/hr minimum wage would boost the pay of 17 million workers but result in 1.3 million lost jobs. One of the major issues is housing cost in California is very expensive. One of the reasons for this is the lack of supply of housing in California. According to a report on housing underproduction from Up for Growth California, a nonprofit research and advocacy group, California is under supplied by 3.4 million homes to meet its current housing needs. Lower supply with similar demand leads to higher prices for homes. More housing supply in California would lead to lower housing cost, however the problem is due to regulations and in some cases a lack of workers in the construction field therefore the number of homes needed cannot be built. So, I think this problem of minimum wage goes much deeper than just the minimum wage. #minimumwage #housingshortage #constructionworkers #emeryville #WSJ