Do US workers deserve minimum-wage increase? No: Focus should be on creating jobs
- October 1, 2012
- Research by David Neumark, economics Chancellor's Professor, is featured in the Arizona Daily Star and 18 additional news sources October 1, 2012
From the Arizona Daily Star:
Higher minimum wages generate a trade-off 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. Firms often decide they can get by with fewer workers instead of paying higher wages. David Neumark of the University of California Irvine and William Wascher of the Federal Reserve Board survey recent research on minimum wages and find the least-skilled workers are hurt the most by minimum wages. Minimum wages are particularly damaging for the future prospects of young workers as they typically earn the low wages that are impacted by the change in the minimum wage law.
For the full story, please visit http://azstarnet.com/news/opinion/editorial/do-us-workers-deserve-minimu....