Minimum Wage Will Increase In Two States, 16 Municipalities On Sunday

Here’s the takeaway quote: 

Some economists say minimum wage increases hurt teenage workers the most, as youth participation in the labor market has continues to decline.

Actually, that should be “90% of all economists agreed that the minimum wage increases unemployment among low-skilled workers.” The other 10% agree that it will happen but think it’s worth it. 

I don’t know any professional economist who doesn’t acknowledge the Law of Supply and Demand, and that raising minimum wage will price low-skilled workers out of the labor market. 

For some education on the matter, check out the Fortune Encyclopedia of Economics: 

• Minimum Wages

And EconLog’s discussion by professional economists on the matter: 

• Economists Debate the Minimum Wage
• Large Increases in the Minimum Wage Are Likely to Destroy Jobs
• Reply to Student on Minimum Wage

http://www.oann.com/minimum-wage-will-increase-in-two-states-16-municipalities-on-sunday/