A new study by researchers Jeffrey Clemens and Michael Wither from the University of California San Diego found that low-skilled workers were the most adversely affected by minimum wage increases, despite the fact that this was the group that such legislation was supposedly going to help.
The study shows that between July 23, 2007 and July 24, 2009, the federal minimum wage rose from $5.15 to $7.25 per hour. During this period, the employment-to-population ratio declined substantially —by 4 percentage points among adults aged 25 to 54, and by 8 percentage points among those aged 15 to 24.
The conclusion of the 70-page study is that the minimum wage increases “reduced working-age adults’ employment-to-population ratio by 0.7 percentage point” for the period from December 2006 to December 2012. “This accounts for 14 percent of the total decline over the relevant time period,” or approximately 1.4 million workers."
(via Brietbart, ht Jay Stephenson)
I keep telling you its a feature not a bug. Hipster racism, they call it. Poor 20-somethings, ostensibly liberals and moderns who move to a city and gentrify an area and then have to deal with 'questionable' neighbors...
ReplyDeleteProggies " why are you still talking about this? the conversation has moved on"
ReplyDeleteHow did they account for the recession that started in 2008?
ReplyDelete