Raising minimum wage would ease income gap but carries political risks
Raising minimum wage would ease income gap but carries political risks
- February 13, 2013
- David Neumark, economics Chancellor's Professor and Center for Economics & Public Policy director, is mentioned in The New York Times February 13, 2013
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From The New York Times:
President Obama called on Congress to raise the federal minimum wage to $9 an hour
from $7.25 and to automatically adjust it with inflation, a move aimed at increasing
the earnings of millions of cooks, janitors, aides to the elderly and other low-wage
workers... By making employees more expensive for companies to hire, some economists
argue that higher minimum wages increase the unemployment rate — a particularly toxic
possibility given the high levels of joblessness that remain long after the recession
has ended. Moreover, some economists, like David Neumark of the University of California,
Irvine, have even argued that minimum wages are counterproductive at reducing poverty.
For the full story, please visit http://www.nytimes.com/2013/02/13/us/politics/obama-pushes-for-increase-....
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