The wage is finally going up and the workers are happy about finally being able to have a more stable life. We are all blind by our desire to make more money to notice the inevitable consequences of this change.
In Los Angeles there are many poor people that can hardly get by on the low wage of $9 an hour. The wage increase can cause a loss of jobs because companies won’t want to have so many workers if they have to pay them such a high amount of money. Some companies will increase their prices because they will be losing money if they pay their workers a high wage and keep their prices the same. While the wage increase will cause unemployment rates to increase and prices to increase, people that are starting college with little to no financial aid will surely benefit from the wage increase. People that are starting college like the seniors here at APB will be able to pay off classes, buy their books and get transportation. The wage increase is amazing but there are many downfalls that come with it. We might not see the changes until the year 2020 because until then is when the minimum wage will be $15 an hour.