The minimum wage mirage
- April 12, 2012
- Research by David Neumark, economics Chancellor's Professor and Center for Economics & Public Policy director, is featured in the Washington Examiner and 4 additional publications April 11, 2012
From the Washington Examiner:
It's a time-tested axiom of economics that when the government sets a minimum wage, it causes unemployment by pricing some workers — particularly marginal ones — out of the labor market. David Neumark, an economist at the University of California, Irvine and co-author of the 2008 book "Minimum Wages," says a 10 percent boost in the minimum wage could be expected to reduce employment among low-skilled workers by 1 to 2 percent.... Supporters think raising the minimum wage is a good way to reduce poverty, but it's not. Neumark says only about 17 percent of minimum wage workers are in poor families. Many of the rest of are middle-class youngsters.
For the full story, please visit http://washingtonexaminer.com/opinion/2012/04/minimum-wage-mirage/475226.
Also ran in:
News Talk 1070 AM
Related News Items
- Princeton Review and U.S. News & World Report rank UCI among nation's top 10 public universities
- Ross receives grant to develop framework for causal complexity
- The Fed pauses rate hikes again; no relief for housing market
- Former President Trump gains support vs. President Biden in new poll
- Celebrating UC changemakers: Meet 10 Latino leaders creating a more equitable future for us all