Congratulations I raised your minimum wage

What most people don’t understand is the fundamental effect the minimum wage has on the job market, particularly for young people.

If you increase the minimum wage, companies who wanted to hire workers can now only afford to hire fewer than they intended. Thus helping to create a void in the job market. The question is simple, would you rather have less people in work earning a good wage, or more people in work earning an OK wage? After all, the workforce of a country is its main source of productivity/prosperity.

 

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Posted on December 2, 2013, in Uncategorized and tagged , , , , , . Bookmark the permalink. Leave a comment.

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