Not only did the new study completely ignore the new (more business-friendly and therefore watered-down) version of the Fair Wages For New Yorkers Act, it failed to take into account hard data from actual cities like LA and yes, New York, when calculating the supposed damage done by raising pay. The study "takes place in an unrecognizable New York City where real estate values never rise and 40,000 retail jobs weren't added over the past decade," James Parrott, chief economist at the Fiscal Policy Institute says in a blistering rebuttal [pdf].
Bronx Borough President Ruben Diaz, Jr. agrees, saying in a release that the study is "nothing more than a ruse designed to provide cover for Mayor Bloomberg’s clearly stated opposition to living wage mandates." Conveniently, Dmitry Medvedev Council Speaker Christine Quinn now has an excuse to sit on the bill. Will that please the businesses that may or may not donate to her anticipated mayoral campaign? Pure coincidence! Besides, it's not like the city is grappling with a poverty epidemic or anything.