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Jan 21

Walmart losing millions, closing stores where minimum-wage laws are harshest

anguish 2

In case anyone needed further evidence that minimum-wage laws create unemployment, here is another story about Wal-Mart.

Wal-Mart once had a thriving business model. It offered cheap goods at a central location.

But Wal-Mart has come under attack from anti-business voices for years. In response, Wal-Mart has increased its pay rates for its labor (which has put the giant retailer in danger from competitors).

This past quarter, Wal-Mart suffered major losses, and announced it would close (or not open) several Wal-Mart stores around the country. Columnist Debra J. Saunders suggests that Wal-Mart appears to be closing stores sited in areas with higher-than-market minimum-wage ordinances.