The minimum wage has just gone up 11 percent - to $7.25 an hour. An endless parade of studies shows that when the cost of labor rises, companies become more cautious in hiring and unemployment increases. Unemployment currently stands at 9.5 percent - a 26-year high. Given its upward pressure on unemployment, is this the proper time to raise the minimum wage?
Meaning no disrespect, sir, is it then wrong to conclude you think it's better for some to be unemployed at $7.25 an hour than to be employed at $5 or $6.50?
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