Minimum wage rise, jobs fall
Minimum wage rise, jobs fall
- February 21, 2012
- David Neumark, economics professor and Center for Economics & Public Policy director, is quoted in the New York Post February 20, 2012
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From the New York Post:
"We believe in a fair wage, but we need to balance that with being able to stay in
business," said restaurant owner Henry Meer. According to the man who has cooked and
run the Tribeca eatery City Hall since 1996, a mew minimum wage hike would stop him
from hiring . "We were able to survive 9/11 without laying off any employees, and
we were able to survive the economic slowdown without laying off any employees," Meer
said. "We hope we will survive this. But there definitely would be a hiring freeze."
This is basic economics that any business owner understands. "I don't think there's
any sensible economist who thinks you could double the minimum wage and not throw
a lot of people out of work," says David Neumark, director of the Center for Economics
and Public Policy at University of California, Irvine. There is a debate, he says,
over the effect of incremental raises for the small group of largely unskilled workers
who earn the minimum wage.
For the full story, please visit http://www.nypost.com/p/blogs/capitol/minimum_wage_rise_jobs_fall_ohwwLF....
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