In 2017, the retail giant Target made headlines for announcing plans to gradually increase its minimum wage to $15 an hour. Naturally, the company won widespread liberal plaudits for its supposedly pro-worker stance. Years later, though, the wage rise has led to nothing short of a disaster.
New reporting from CNN Business reveals that many of the Target employees who were supposed to benefit from the minimum wage increase have actually suffered from reduced hours and increased automation. This is, of course, what conservative critics of the #Fightfor15 have often predicted — and in line with basic economic theory, to boot.
Read Full Article »