Con: Raising minimum wage is sure bet to create more jobless young Americans
- September 28, 2012
- Research by David Neumark, economics Chancellor's Professor and CEPP director, is featured by GazetteXtra September 27, 2012
Higher minimum wages generate a tradeoff between higher wages for the employed and higher rates of unemployment. When minimum wages increase, many workers who earn less than the new higher minimum wage lose their jobs. Companies often decide they can get by with fewer workers instead of paying higher wages. As one might expect, David Neumark of the University of California’s Irvine campus and William Wascher of the Federal Reserve Board survey recent research on minimum wages and find that the least-skilled workers are hurt the most by minimum wages.
For the full story, please visit http://www.gazettextra.com/news/2012/sep/27/con-raising-minimum-wage-sur....