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.
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.
mises.org
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