Veronique de Rugy explains how foolish government policies make us poorer and make recessions worse: Making the Most of the Next Recession.
Tag Archives: minimum wage
If increasing cost of carbon decreases its use, does increasing cost of labor decrease employment? (#minimumWage)
Does thinking realistically about the proposed minimum wage increase to $10.10 per hour alternatively as a $5,700 annual “unskilled labor tax” make minimum wage proponents less enthusiastic about that increase and its inevitable adverse effects on unskilled workers?
Also, from Mark Perry:
Mark Perry, professor at the University of Michigan and scholar at the American Enterprise Institute, explains that minimum wage hikes ultimately affect the number of hours worked, not the number of workers employed by a firm. (more)
Daily Herald, Chicago, April 28, 2008
“Suburban teenagers might have trouble finding summer employment, but some businesses say they fear they’ll have even fewer work opportunities next year.
If an Illinois proposal to make the teenage minimum wage equal to adults’ pay becomes law, teen-friendly businesses may slice hours or give their 15- to-17-year-old workers the boot.” …
York Theatre in Elmhurst also would be forced to downsize its 40-person staff of mostly high-schoolers if the higher wages became law.
“Being a family-run company, there’s not a whole lot in the budget for payroll,” said Trevor Murakami, general manager of York Theatre.
See also this editorial in the Investors Business Daily:
As a basic point of economics, it’s a given that anytime you raise the cost of anything, you will use less of it. As such, the minimum wage hike that took effect in Massachusetts this year has been a job-killer for thousands of untrained youths, many of them minorities.
We’re not the only ones to see this, by the way.