Taxpayer Protection Pledge
ATR's Congressional Ratings
An American Agenda: Vote for Your Priorities
Invite Grover Norquist to Speak at Your School or Event
Welcome to Pacific Rim Policy Exchange 2010
INDEX

How 550,000 jobs were destroyed by the minimum wage hike

From Tim Andrews on Monday, March 8, 2010 5:39 PM
Add to Reddit Add to Stumbleupon Add to Delicious Add to Digg Add to Facebook Add to Twitter

In 2007, the Federal government demonstrated their ignorance of economics by raising the minimum wage, an action that was guaranteed to kill jobs, whilst simultaneously not increasing people's wages (simply pricing them out of the market).

So. What were the results? Ball State University commissioned a study to find out.  And, it seems, unsurprisingly, the law of economics that has remained constant throughout human history, was proven once again - 550,000 job losses.

According to the study, mostly teenage workers were affected by the hike. The Bureau of Labor Statistics shows that almost 49% of minimum wage workers were between the ages of 18 and 25.

As one commentator noted, "Lawmakers may mean well when they pass minimum wage laws, but they hurt the very people they intend to “help.” 

Permalink | Email | Print | Tags: AWF, REGULATIONS, Federal

Add a Comment



18057

Add me to the ATR Newsletter list (If you are already on the list, you will not be subscribed a second time.)
Notify me when others comment on this article.