Finding a fair price on minimum wage
- June 25, 2012
- Research by David Neumark, economics Chancellor's Professor and Center for Economics & Public Policy director, is featured in the Columbia Daily Tribune June 23, 2012
From the Daily Tribune:
The political and economic debate over the minimum wage has raged since it was first conceived. The initial national minimum wage, set in 1938, was 25 cents an hour. Adjusted for inflation, the $1.60-per-hour rate established Feb. 1, 1968, was the highest minimum wage.... However, other economists see severe effects on employment, especially opportunities for teenagers and adults with few skills. David Neumark of the University of California, Irvine, writing about the 2006 increase for the Show-Me Institute, said he had found "that a 10 percent increase in the minimum wage tended to cause a nearly three-quarter percentage point rise in the poverty rate."
For the full story, please visit http://www.columbiatribune.com/news/2012/jun/23/finding-fair-price/?satu....