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CapCon: When you absolutely, positively only want part of the story

by: Eric B.

Tue Apr 08, 2014 at 11:00:49 AM EDT

Life is simple when you pick and choose your facts, waving off the inconvenient ones like buzzing gnats!

That the reason for the visit — to promote increasing the minimum wage — will reportedly result in the loss of around 500,000 jobs, according to a report from the nonpartisan Congressional Budget Office.

The rest of the "article" is a long, tiring complaint about how no one noted the exact thing CapCon wanted them to note, which is the CBO report.  The embeded link goes to the summary of the report. Here is the actul report. There are two scenarios listed, one for hiking minimum wage to $9 an hour and the $10.10 wage. Here's the explaining paragraph for employment figures.

Effects of the $10.10 Option on Employment and Income. Once fully implemented in the second half of 2016, the $10.10 option would reduce total employment by about 500,000 workers, or 0.3 percent, CBO projects. As with any such estimates, however, the actual losses could be smaller or larger; in CBO’s assessment, there is about a two-thirds chance that the effect would be in the range between a very slight reduction in employment and a reduction in employment of 1.0 million workers (see Table 1).

There's more information on Table 1, like that under a $9 there could be a small increase in jobs created (probably because higher minimum wage means people spending more and stimulating demand for things). The table also projects that under a $10.10 minimum wage that 900,000 people will be lifted out of poverty (three times as many people as under the $9 minimum wage, and almost double the number of jobs lost under the CBO's centerline job loss projection) and that every income group would see an increase in net income except people with wages six times the poverty line. The number of workers who'd see a weekly increase in pay? 16.5 million ... 32 times the number of jobs lost under the CBO's centerline projection.

To sum up, the CBO report that CapCon is bellowing about actually says that job losses might range anywhere from minimal to a million, with CapCon's preferred figure used by the CBO as a center projection (that's how Table 1 identifies it). But, if you read the full report that CapCon is bellowing about, you find that the CBO is actually saying that many millions stand to benefit from raising the minimum wage, and that the only people who will lose money over it are the already very wealthy.

Please feel free to apply this careful relationship with factual and contextual accuracy to everything you read from CapCon, and especially the guy who wrote this article.


Eric B. :: CapCon: When you absolutely, positively only want part of the story
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Speaking of Pay...
From Talking Points Memo:

Former Secretary of State Terri Lynn Land (R), the likely Republican nominee for Senate in Michigan, said women prioritize flexibility in a job ahead of salary.

"Well we all like to be paid more and that's great but the reality is that women have a different lifestyle," Land said in the speech. "They have kids, they have to take them to get dentist appointments, doctors appointments all those kinds of things and they're more interested in flexibility in a job than pay."


Great Lakes, Great Times.

Got a link to that open, planning a post.
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