As reported last week, more than 52,000 new jobs were created across Canada in September, which is five times more than economists predicted.
In light of such positive news, it is interesting to recall the dire predictions made in 2011 after it was announced that B.C.'s minimum wage would be increased from $8 per hour to $10.25.
The Fraser Institute, for instance, published a "Fraser Alert" in April 2011 that listed the following points as main conclusions:
- "Between 9,391 and 41,738 jobs will be lost among those directly affected by B.C.'s 28.1 per cent minimum wage increase."
- "The employment effect for all teen and youth workers will range from 26,097 to 52,194 jobs lost."
That the Fraser Institute was not only wrong, but wildly so, says much about the credibility of this so-called "think tank."
Richard Koett, Surrey