The mirage of minimum wage
- August 18, 2009
- Research by David Neumark, economics professor, is featured in the Gaston Gazette on August 17, 2009
From the Gaston Gazette:
If you're a minimum wage employee, your job will pay more, but only if it still exists. These days, most companies are scrutinizing every position on the payroll to make sure it's worth the cost. Raise the toll, and some employees will find they are no longer valuable enough to make the cut. Economists generally agree that increases in the minimum wage cause unemployment even when the economy is prospering - something it has not been doing for the last year and a half. David Neumark, a professor at the University of California, Irvine, estimates this rise will destroy some 300,000 jobs among teens and young adults.
Link to the full story is unavailable at this time.