A better deal than minimum wage (Op-ed)
A better deal than minimum wage (Op-ed)
- February 18, 2013
- Research by David Neumark, economics Chancellor's Professor and Center for Economics & Public Policy director, is featured in The Washington Post February 18, 2013
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From The Washington Post:
I’m skeptical. Economists David Neumark of the University of California at Irvine
and William Wascher of the Federal Reserve have spent their careers studying minimum
wages. They found that, by and large, they reduce employment of young, low-skilled
people. The last time the minimum wage was increased, in July 2009, Neumark estimated
a loss of 300,000 jobs….In 2010, economist Arindrajit Dube of the University of Massachusetts
and two colleagues studied county-level data for restaurants in neighboring states
with different minimum wages. There was a job-killing effect in states with higher
minimum wages, but it disappeared when they controlled for broader regional employment
trends. Ergo, higher minimums were not to blame. Neumark and his colleagues responded
with a paper arguing that Dube & Co. failed to justify their choice of non-minimum-wage
factors and that the minimum wage’s job-killing effects remain. I found Neumark persuasive,
but I’m no statistician.
For the full story, please visit http://www.washingtonpost.com/opinions/charles-lane-a-better-way-to-help....
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