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That's because the buying power of the minimum wage has been getting lower over time, while teenage employment has been going down. It's not the reason teenager
by vilmosi 9y ago
That's because the buying power of the minimum wage has been getting lower over time, while teenage employment has been going down. It's not the reason teenagers aren't working.
- Consultant32452 9y agoA lot of these arguments about retirees taking minimum wage jobs and all that is simply increased supply of labor which should push wages down. But they can't possibly go down below the minimum wage. Remember, the minimum wage is just the legal requirement that employers prejudice against the least productive members of the work force. If minimum wage is $10/hr but your fair market wage is $5/hr, you're unemployed.
- prostoalex 9y agoTeenagers don't work summer jobs for spectacular buying power, they usually work for experience. In most modern jobs, however, there's hardly any way an inexperienced part-time teenager can add value quantified at or above minimum wage levels.