A survey of American economists found that 90 percent of them regarded minimum wage laws as increasing the rate of unemployment among low-skilled workers. Inexperience is often the problem. Only about 2 percent of Americans over the age of 24 earn…
Political crusades for raising the minimum wage are back again. Advocates of minimum wage laws often give themselves credit for being more “compassionate” towards “the poor.” But they seldom bother to check what are the actual results.
An increase in the minimum wage will hurt the least skilled workers the most. Fast food workers across the United States went on strike to protest minimum wage pay. They want their salaries doubled to $15 per hour — twice the federal minimum wage rate. If the $15-wage-rate goes into effect, business will drop off […]