Research and commentary: New Jersey Senate considers minimum wage hike
- November 22, 2021
- David Neumark, economics, The Heartland Institute, Nov. 22, 2021
Minimum wage hikes are never a viable economic solution. A 2007 study from economists at the University of California, Irvine and the Federal Reserve Board comprehensively examined the body of work on the subject and found 85 percent of the studies they considered credible demonstrate minimum wage hikes cause job losses for less-skilled employees. … Economists Grace Lordan and David Neumark [UCI Distinguished Professor of economics] find that raising the minimum wage increases the likelihood that low-skilled workers become unemployed or employed in lesser paying jobs, based on data collected from 1980 to 2015.
For the full story, please visit https://www.heartland.org/publications-resources/publications/research--commentary-new-jersey-senate-considers-minimum-wage-hike.