Monday, October 10, 2011

 

Did Raising the Federal Minimum Wage Raise Unemployment?

During the federal minimum wage debate in 2007, one of the arguments against raising minimum wage was the it would force employers to layoff workers and/or hire fewer workers. Proponents scoffed and claimed there would be no impact on employment. Some insisted it would boost the economy as people would have more money to spend.

I'm no economist, but it's interesting that the unemployment rate rose in conjunction with the federal minimum wage.


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