The winners and losers of New York's new $15 fast-food minimum wage
- July 23, 2015
- David Neumark, economics Chancellor’s Professor, is quoted in Fortune July 23, 2015
According to David Neumark, Director of the Center for Economics & Public Policy and UC Irvine, however, “We know that minimum wages reduce employment more the higher the minimum wage is relative [to the average prevailing wage].” That means that big minimum wage hikes like we’re seeing in Seattle and L.A. are likely to lead to greater job losses than more measured increases.
For the full story, please visit http://fortune.com/2015/07/23/new-york-fast-food-minimum-wage-2/.
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