Los Angeles Sets $15.25 Target for City’s Minimum Wage

Photo of Paul Ausick
By Paul Ausick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Manufacturing
Thinkstock
In a measure introduced by the city’s mayor, the City Council of Los Angeles is now considering a proposal to raise the minimum wage in the city to $13.25 by 2017 and is also being asked to study raising the wage to $15.25 by 2019. Late last month the Los Angeles City Council approved a hike to $15.37 an hour for workers at the city’s large hotels (300+ rooms) beginning July 1, 2015.

There are more than half a million manufacturing workers in Los Angeles, the largest manufacturing center in the U.S. The Wall Street Journal has reported that half those workers earn less than the $13.25 an hour proposed by Mayor Eric Garcetti in a plan he first announced on Labor Day.

The chamber of commerce president has said that raising the minimum wage will cause layoffs, business relocations, and higher consumer prices. A fashion industry group’s president said that the mayor clearly doesn’t want manufacturing in the city: “It’s almost as if they’re saying, ‘Get out of town.’”

Garcetti has acknowledged that some jobs may leave for nearby towns where the minimum wage is a state-mandated $9 an hour. The mayor’s solution is to persuade the nearby towns to raise their pay minimum as well. Good luck with that Mr. Mayor.

ALSO READ: Jobless Rate Still Above 10% in Several Cities

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618