ADVISORY/Santa Monica Businesses May Face Additional $6 million Hit from Doubling of Minimum Wage -- Free Public Forum to Discuss Impact and Loss of Jobs.Business/City Editors ADVISORY...for Wednesday Wednesday: see week. (Sept. 20) SANTA MONICA Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Calif.--(BUSINESS WIRE)--Sept. 19, 2000 The economist This article is about the profession. For the news publication, see The Economist. An economist is an expert in the social science of economics.[1] hired by the City of Santa Monica to study the impact of a proposed doubling of the minimum wage may have underestimated the cost to businesses by more than $6 million, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. new calculations by the Santa Monica Chamber of Commerce. In a report to be presented to the public on Wednesday, Sept. 20, 2000, the chamber points out that economics professor Robert Pollin Robert Pollin is an American economist and activist. He is a professor economics at the University of Massachusetts-Amherst and founding co-director of its Political Economy Research Institute (PERI). assumes that if the minimum wage is increased from $5.75/hour to $10.75/hour, all workers currently making at or below $10 will receive the same $10.75 wage regardless of what they were earning before the increase. In other words Adv. 1. in other words - otherwise stated; "in other words, we are broke" put differently , a worker making $10/hour before the higher wage goes into effect would only have to be given a 75-cent increase at the same time a colleague making $5.75/hour would be given a $5/hour increase. "Dr. Pollin's assumption contradicts common sense and the advice of business owners. As a result, he has underestimated the increase in payroll to affected businesses by as much as $6.2 million," according to Tom Larmore, who will present the analysis at a free public forum from 7 p.m. until 8:30 p.m. at the Ken Edwards Ken Edwards (born in Gibraltar, 1950) is a poet, editor, and writer who has lived in England since 1968. He is associated with the The British Poetry Revival. Edwards ran Reality Studios Center, 1527 Fourth St. The chamber's analysis also reveals a startling star·tle v. star·tled, star·tling, star·tles v.tr. 1. To cause to make a quick involuntary movement or start. 2. To alarm, frighten, or surprise suddenly. See Synonyms at frighten. figure on the number of businesses likely to close if the city doubles the minimum wage. Pollin surveyed 150 firms throughout the city. Forty-two of those surveyed, almost 30 percent, advised him they were likely to close if the city adopts the union-backed measure. If the proposed wage hike were applied citywide, the number of businesses likely to close would jump to around 90, resulting in substantial job losses for low-wage workers.
WHAT: Free public forum on impact of proposed doubling of
minimum wage in Santa Monica. Sponsored by Santa Monica
Chamber of Commerce.
WHEN: Wednesday, Sept. 20, 2000
7 p.m. until 8:30 p.m.
WHERE: Ken Edwards Center
1527 Fourth St., Santa Monica
Free parking and light refreshments
CONTACT: Santa Monica Chamber of Commerce, 310/393-9825
WHO: Tom Larmore/Harding, Larmore, Kutcher & Kozal
Richard Sander/Professor of Law, UCLA
Steve Knight/Nonprofit Management Consultant
Jack Srebnik/Santa Monica Resident and Businessman
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