3 ms·
Unemployed workers also cannot afford rent anywhere in America. Creating an artificial price floor on labor will reduce the consumption of labor, leading to mor
by CryptoPunk 5y ago
Unemployed workers also cannot afford rent anywhere in America. Creating an artificial price floor on labor will reduce the consumption of labor, leading to more unemployment.
- herbst 5y agoBut does it? As far as I know the US has way worse unemployment numbers than Europe, yet Europe mostly enforces a proper minimal wage.
- CryptoPunk 5y agoEurope has way worse unemployment numbers than the US.
- cloudfifty 5y agoThere are certainly countries in Europe that can match, and maybe even beat, US unemployment numbers on historical data while having much higher labour costs.
- CryptoPunk 5y agoAnd there are US states that can match and beat almost all European states on unemployment numbers. But my point is that the parent comment is wrong: the US has a lower unemployment rate than the EU as a whole, and a much lower unemployment rate if you only count the regions of Europe with high social welfare spending.