A recent working paper from the National Bureau of Economic Research by the economists Jeffrey Clemens, Lisa B. Kahn, and Jonathan Meer should make us pause and question the wisdom of higher minimum wages. The economists explore how minimum wages affect the probability of employer-provided health coverage and find that a chunk of the increased earnings for workers who get higher wages will be offset by a reduction in employer-provided health coverage.
There are a lot of ways minimum wages can hurt the people they’re supposed to help. By raising the price of something in a competitive market, people will demand less of it. And while there is some mixed evidence, it does appear to be the case that minimum wages reduce employment.
In the simplest versions of the labor market, we assume that workers work for one thing and one thing only: wages. We know this isn’t strictly true, but it’s a good enough approximation that brings us some important insights into how labor markets work.
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5 comments:
Try to tell those idiot Democrats Jamaad Gould and Michele Gregory that. They keep preaching when they get on the County Council that they will be raising the the minimum wage in the County to $27 per hour.
another lie. they are already NOT getting any other benefits.
and here's another tidbit for you
after walmart "raised" everyone's wages they cut back staff and hours to compensate. Wonder why their shelves are no longer properly stocked
another bs political fake news job.
Yeah, they talk about these benefits the working poor stand to lose. How about you keep the benefits and just fork out the cold harsh cash instead? I mean it's not like those benefits aren't a farce anyway when employers limit your hours to just enough to not be classified full-time anyway and refuse to allow overtime.
Elected officials that don't have a clue about real business in America. Lets help folks by making it a law for $15 min wage. Business says - no problem, less service folks and more KIOSKS!!!!
Good job elected officials...good job indeed. You'll prob need one of those $15 an hour jobs once you are out of office....IF you can find one!!!!
You see it at walmart-less stock on the shelves, more self checkouts. A neighbors daughter worked there and they kept her hours restricted and she was forced to stay on social service benefits for health care.
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