Seemingly determined to keep the state of Michigan near the bottom in employment rates among the fifty states, Republican Governor Rick Snyder signed into law Tuesday a bill to raise the state’s minimum wage by 25 percent. Snyder rejoiced that this was a good thing:
This is something that is good for Michigan. It’s good for the hard-working people of Michigan and I believe it is economically sound…
I commend my [Republican] partners in the legislature for finding common ground on a bill that will help Michigan workers and protect our state’s growing economy.
At present Michigan ranks 46th among the 50 states with an unemployment rate of nearly 9 percent. By preventing employers from employing those willing to work for less than the state’s new minimum wage, those willing workers won’t be employed. It’s the iron law of economics: