Tuesday, May 21, 2013

About those "summer" jobs.........................

From Forbes comes this conclusion to an essay on the minimum wage (that includes information about a faulty, but much cited, study on New Jersey fast food employment):

Ignoring the law of demand to adopt a higher minimum wage in the hope of helping low-wage workers is a grand delusion.  The persistence of this false belief ignores economic reality.  It is a red herring that diverts attention from alternative policies that would increase economic freedom and prosperity for all workers.

From The Center For American Progress comes an essay highlighting the unemployment problems of low skill workers (i.e teenagers).  Said essay includes the charts below.   Of a different political persuasion than Forbes, CAP does not link the dearth of employment opportunities for teenagers to the rising minimum wage.

Economics was never my strong suit in school, but I suspect there is more that a bit of truth in this:

cartoon via

No comments:

Post a Comment