Finding a fair price on minimum wage
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....
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