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The UK has the lowest-ever unemployment and the highest-ever minimum wage. Data monitoring back to 2000 show no link between the wage level and unemployment. The minimum wage has risen faster than inflation during that time period. The statistics indicate that the traditional economic idea that rising wage costs reduce the number of accessible jobs might not be accurate. LONDON - It's one of the oldest and debates in economics: Does increasing the minimum wage increase unemployment, by making it......Read More
Although the federal minimum wage has remained at $7.25 a hour since 2009, most Americans are currently covered by greater minimums determined by local and state legislation - from Los Angeles to New York country to Washington, D.C. Organized labour and anti-poverty classes continue to drive for $15 a hour as the new standard for all workers paid hourly, although given Republican control of Congress that possibility appears dim. While the concept of raising the minimum wage is broadly popular, a......Read More
If policy makers and voters really understood the fundamentals of economics, they might find themselves on the other side of the now-popular debate to increase the minimum wage. Liberals use a raft of studies and a few arguments to back up their minimum-wage-raising position, touting them as proof that hiking the minimum wage helps both workers and the broader economy. This Huffington Post article cites a study projecting that the economy would grow by $22 billion and make 85, 000 new jobs, all......Read More
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