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> On average, minimum-wage increases eliminated jobs paying below the new minimum, but added jobs paying at or above the new minimum. The two changes effectivel
by coolspot 9y ago
> On average, minimum-wage increases eliminated jobs paying below the new minimum, but added jobs paying at or above the new minimum. The two changes effectively cancel each other out.
What is missing for me in this paper is the analysis of other effects besides employment, especially inflation of consumer prices.
It might look good on paper that worker gets $15/hr instead of $10, but if (s)he has to pay 1.5 times more for rent and groceries it does not change anything for good.
- DrScump 9y agoNote that jobs paying exactly minimum wage are bundled into the "low" graph before the change but into the "high" graph after the change. I'd like to see an uncooked graph.