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“Consider how the minimum wage impacts workers with different educations. Over the past 30 years (on average) each ten-percentage point increase in the federal minimum wage as a fraction of the average U.S. wage rate has been associated with no increase in unemployment among workers with college degrees, a one and a half percentage point increase in unemployment among workers with high school diplomas, and a three and a half percentage point increase in unemployment among workers without high school diplomas. Politicians are picking winners and losers, but they are lying about whom they’ve picked.” — Antony Davies
Consider how the minimum wage impacts workers with different educations. Over the past 30 years (on average) each ten-percentage point increase in the federal minimum wage as a fraction of the average U.S. wage rate has been associated with no increase in unemployment among workers with college degrees, a one and a half percentage point increase in unemployment among workers with high school diplomas, and a three and a half percentage point increase in unemployment among workers without high school diplomas. Politicians are picking winners and losers, but they are lying about whom they’ve picked.