The KUIK Closing Market Report for Monday, June 26:
Markets ended mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow
Up
15
points
21,410
2:35 PM
S&P500
Up
0.0%
percent
2,439
0.77
Nasdaq Composite
Down
-0.3%
percent
6,247
(18.10)
30 Year Treasury
Down
(1)
basis points
2.70
Annual Yield
The study by the National Bureau of Economic Research looked at Seattle’s steps since 2014 to raise the minimum wage to the highest levels in the U.S. The study estimates that after Seattle increased the minimum wage by a combined 37% over nine months, restaurants cut the average number of hours each employee worked by 9.4%. The loss in hours negated the benefits of higher wages, reducing the average low-wage restaurant worker’s paycheck by 6.6% a month and that works out to as much as $125 in lost income.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
