From Forbes:
One of the most debated questions about the minimum wage is whether businesses will simply make do with fewer workers if they have to pay them more. There have been numerous studies on this question, with academics coming down on both sides of the issue. A two-decade literature review by a University of California, Irvine economist and a member of the Federal Reserve Board, published in 2007, found that a hike in the minimum wage did hurt the job chances of low-wage workers. A separate 2010 paper, prepared by economist Joseph Sabia for the Employment Policies Institute, a conservative think tank, likewise found that a higher minimum wage drove down GDP in low-skilled industries.

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