California Governor Jerry Brown launched a Political Earthquake proposing a series of minimum wage hikes every year between now and 2022 when the minimum wage hits $15.

The Huffington post reports "The new law will boost paychecks for millions of California workers. More than 40% of California workers earn less than $15 dollars an hour."

The very next line, written by Peter Dreier, professor of politics at Occidental College is economic nonsense: "By putting more money in people's pockets, the pay increase will improve the economy by increasing consumer spending in businesses throughout the state."

Inquiring minds just may be interest in seeing a chart of California minimum wages hikes over time, all the way back to 1912. I just happen to have that chart.

California Wage Hike History

California Minimum Wage History

Data for the above chart is from the California Department of Industrial Relations, History of California Wage Hikes.

Data points through 2022 reflect the new wage hikes.

The idea for this post comes from reader "Rand" who emailed the links and a Google Docs chart. I re-entered the data into Excel.

As for Peter Dreier's ridiculous comment, the only things thing this hike is guaranteed to do are as follows

Make the US more uncompetitive
Increase the use of robots
Drive up prices
Crucify those on fixed incomes
Hammer cities with increased costs of doing routine maintenance

Where does it stop? Please look at my chart and tell me. Then tell me why we should not expect another round of outsourcing and increased use of robots.

By Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

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Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management . Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Visit Sitka Pacific's Account Management Page to learn more about wealth management and capital preservation strategies of Sitka Pacific.

I do weekly podcasts every Thursday on HoweStreet and a brief 7 minute segment on Saturday on CKNW AM 980 in Vancouver.

When not writing about stocks or the economy I spends a great deal of time on photography and in the garden. I have over 80 magazine and book cover credits. Some of my Wisconsin and gardening images can be seen at MichaelShedlock.com .

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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