Unskilled workers, the young, and industries with low-wage jobs are harmed the most by wage increases.

Red Alert Politics reports.

#FightFor15 ignores 100 years of economic evidence on the minimum wage

The shockwaves that hit after minimum wage increases across the country could be brutal. Recent studies on the minimum wage make the artificial wage increase look costlier than the rosy future portrayed by supporters.

“Raising the minimum wage will cost jobs, particularly those held by the least-skilled. Economists have written scores of papers on the topic dating back 100 years, and the vast majority of these studies point to job losses for the least-skilled,” David Neumark wrote for The Wall Street Journal.

Neumark noted a study from Jonathan Meer and Jeremy west that found “the minimum wage reduces job growth over a period of several years.” Another research survey, conducted by Neumark and William Wascher, deputy director of the Federal Reserve Board of Governors, “generally found a 1 percent or 2 percent reduction for teenage or very low-skill employment for each 10 percent minimum-wage increase.”


 
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