Seattle: City’s wage hike will be monitored

Think prices for products in our area are rising quickly? Be thankful you’re not in Seattle, where the city has increased its minimum wage to $15 per hour, which will be phased in over several years.

New York’s minimum wage, which increased to $8 per hour this year, is 75 cents above the federal requirement. Seattle’s will be more than double the federal rate.

Without question, that increase will impact owners of small business, which has more than 50 percent of America’s workers. Once wages are impacted, the costs of goods will follow.

Minimum wage increases are still being considered on a state and federal level. What happens in Seattle in the coming months is something industry and business leaders will be watching.