Verkkolearn how raising the minimum wage can affect consumer spending, inflation, and job growth.
Find out the current federal and state minimum wage.
Verkkowe add to this literature by providing an alternative mechanism:
A substantial rise in the minimum wage can depress the returns to skills through.
Verkkounder the monopsony model, a minimum wage can increase employment by increasing work pay and inducing more labor supply.
Verkkothe debate is triggered by the rise of jobs with low salaries since the 1990s.
Opponents of such regulation argue that raising real wage will raise.