Highest minimum-wage state Washington beats U.S. in job creation
Highest minimum-wage state Washington beats U.S. in job creation
- March 8, 2014
- Research by David Neumark, economics Chancellor's Professor and Center for Economics & Public Policy director, is featured by Bloomberg March 8, 2014
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From Bloomberg:
One possible explanation: Businesses have plenty of ways besides job cuts to absorb
the costs of a minimum-wage increase, according to Arindrajit Dube, an economist at
the University of Massachusetts at Amherst, whose research found no significant effects
on employment. Price increases, reductions in profits and savings from lower turnover
can help soak up the shock. …Not everyone buys that argument. Minimum-wage laws not
only reduce employment opportunities and earnings for low-wage workers, they also
reduce demand for their labor as it’s replaced by other forms of capital, according
to research published in 2008 by David Neumark, an economist at the University of
California, Irvine, and William Wascher, an economist at the Federal Reserve Board
of Governors in Washington.
For the full story, please visit http://mobile.bloomberg.com/news/2014-03-05/washington-shows-highest-min....
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