Tuesday, February 10, 2015

Higher Minimum Wage equals FEWER Jobs

In 1948 … the unemployment rate among black 16-year-olds and 17-year-olds was 9.4 percent, slightly lower than that for white kids the same ages, which was 10.2 percent. Over the decades since then, we have gotten used to unemployment rates among black teenagers being over 30 percent, 40 percent or in some years even 50 percent.
It’s hard to imagine that black unemployment was actually less than that of whites. But that is the effect minimum wage laws can have.
Raising the minimum wage has become the cause célèbre for many on the progressive left. Most notably, Seattle has passed a $15 per hour minimum wage.

No comments: