4 ms·
This 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://bebus
by jamescostian 8y ago
This 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?