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> The workers who do get fired due to financial constraints can now get a job elsewhere for more money. or they drop away from employment entirely. https://fr
by zeusk 8y ago
> The workers who do get fired due to financial constraints can now get a job elsewhere for more money.
or they drop away from employment entirely.
https://fred.stlouisfed.org/series/EMRATIO https://fred.stlouisfed.org/series/EMRATIO
- jamescostian 8y agoThis is an excellent chart. Now match it up with the times when minimum wages increased - I used the following URL to figure out when those were: https://bebusinessed.com/history/history-of-minimum-wage/ https://bebusinessed.com/history/history-of-minimum-wage/ The big drop goes from June 2008 to October 2009 - which is indeed when we had not one but two increases to federal minimum wage. However, look at all the other times when we had minimum wages increase - even when employment decreased, there was a pretty quick recovery. I'd argue that 2008 and 2009 minimum wage increases also happened during a recession, and that they were only part of the contribution to the large drop. Am I missing something?