The minimum wage mirage
Research by David Neumark, economics Chancellor's Professor and Center for Economics & Public Policy director, is featured in the Washington Examiner and 4 additional publications April 11, 2012
From the Washington Examiner:
It's a time-tested axiom of economics that when the government sets a minimum wage, it causes unemployment by pricing some workers — particularly marginal ones — out of the labor market. David Neumark, an economist at the University of California, Irvine and co-author of the 2008 book "Minimum Wages," says a 10 percent boost in the minimum wage could be expected to reduce employment among low-skilled workers by 1 to 2 percent.... Supporters think raising the minimum wage is a good way to reduce poverty, but it's not. Neumark says only about 17 percent of minimum wage workers are in poor families. Many of the rest of are middle-class youngsters.
For the full story, please visit http://washingtonexaminer.com/opinion/2012/04/minimum-wage-mirage/475226.
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