Punished By Minimum Wage – another leftist FAIL

May 11, 2011 07:42


As if more proof were needed about the minimum wage’s devastating effects, yet another study has reached the same conclusion.

By WALTER WILLIAMS at IBD Editorials

EXCERPTS:

Their study demonstrates that increases in the minimum wage at both the state and federal level are partially to blame for the crisis in employment for minority young adults.

Their study focuses on 16-to-24-year-old male high school dropouts, understandably a relatively inexperienced group of labor market participants.

Since minimum wage laws discriminate against the employment of the least-skilled worker, it shouldn’t be surprising to find 16-to-24-year-old male high school dropouts its primary victims.

Among the white males, the authors find that “each 10% increase in a state or federal minimum wage has decreased employment by 2.5%; for Hispanic males, the figure is 1.2%.

“But among black males in this group, each 10% increase in the minimum wage decreased employment by 6.5%.”

The authors go on to say, “The effect is similar for hours worked: each 10% increase reduces hours worked by 3% among white males, 1.7% for Hispanic males, and 6.6% for black males.”

FULL ARTICLE



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