Minimum wage hikes hurt the people that politicians claim to help, according to a new study.
University of California at San Diego professors Jeffrey Clemens and Michael Wither found that the $7.25 minimum wage passed in 2007 contributed to job losses for entry level and low-skilled workers. The wages may have been high on paper, but the take home pay for workers fell during the first three years of the new wage.
“We find that binding minimum wage increases had significant, negative effects on the employment and income growth of targeted workers,” the study says.
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2 comments:
yup keep spreading the myth.
"We find that binding minimum wage increases had significant, negative effects on the employment and income growth of targeted workers".....duh. Many people including myself have been say this the whole time. Its not news. Just confirmation that Washington needs to spend millions on common sense questions.
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