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That's an interesting read, in summary it seems that rises in the minimum wage have a small negative impact, mostly for low paid young people. That makes sense
by wlll 8y ago
That's an interesting read, in summary it seems that rises in the minimum wage have a small negative impact, mostly for low paid young people.
That makes sense, there's going to be jobs that just aren't profitable when the wages go up. If I can make $4 on a box of shleem, and the kid who packs the shleem's wages go up $5 I have to pack the shleem myself, or stop selling it.
One thing that the report mentioned, and is maybe a possible cause of this negative increase, was that kids will leave school sooner when the minimum wage is higher. Perhaps to counter the issue there could be some sort of means-tested grant system to help keep kids in school?