The Fed study comes just less than two years after a study by the Congressional Budget Office asserted that increasing the federal minimum wage to $10.10 per hour would cost 500,000 jobs nationally.
Despite numbers from nonpartisan studies, President Barack Obama and congressional Democrats, as well as Democratic governors across the country, regard a minimum wage hike as a political winner. All three Democratic presidential candidates are running calling for a minimum wage hike.
The Federal Reserve study was conducted by David Neumark, director for the Center for Economics & Public Policy at the University of California, Irvine, and a visiting scholar at the Federal Reserve Bank of San Francisco.
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6 comments:
Of course raising the minimum wage makes jobs go poof and away. The ONLY thing that works is more jobs then workers, then employers must raise wages to get employees. Unfortunately the democrat voters aren't able to grasp this simple concept. They have been so dumbed down that they fail to see obama wants them and intends to keep them in chains by his liberal immigration policies. He wants them slaves to the government and it's handouts. This is how they are controlled and are still enslaved. He keeps on importing more workers so there is a steady supply of people ready willing and able to work the low paying jobs. This effects minorities more than anyone and if the NAACP had an ounce of decency in them they would worry about this instead of the made up things they get the people all riled up over. That's okay though. God sees what evil wicked nasty hearts lurk in the NAACP and a special place in hell is awaiting them. All of them.
But the elites said it wouldn't.
Just go to a fast food place and order something, (they will get it wrong, or over charge you), then you tell me if these idiots are worth $10 or 15 an hour?
they have raised the minimum wage numerous times and guess what? Jobs are still here.
It's funny, in a stupid kind of way, that people keep putting down the very ones that cook, prepare and deliver your food. You think they are unworthy of a decent wage, you think they should accept your scorn, you don't think they should be allowed to better themselves in their profession they chose or what was available, but you still expect them to treat your food with the utmost care and professionalism (all the while you may not be able to see them prepare it).
You are very trusting or very stupid. I'll let you decide which.
10:49
you must be among the 49% I am supporting
You think you should be given status and not earn it on your own merits.
All mouth and no job.
It's not going to matter soon with the world economies struggling.Canada,China,South America all on the verge of economic collapse most of us will be lucky to have a job soon.
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