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View Diary: Nine Dollars Per Hour is Not Enough (73 comments)

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  •  Raising min. wage does NOT cost jobs. (0+ / 0-)
    One of the few industrialized countries that is doing fairly well, Australia, has an unemployment rate of 5.4%. Their current minimum wage is about $13.50 in USD...a landmark study...examining employment at fast-food restaurants on both sides of the New Jersey-Pennsylvania border after New Jersey raised its minimum wage to $5.05 an hour while Pennsylvania’s minimum wage held constant...found no evidence that the increase in the minimum wage in New Jersey led to job loss­. In fact they found that employment increased in fast-food restaurants in New Jersey. For this and related research, Card was awarded the John Bates Clark medal, ­the so-called 'junior Nobel prize.'

    Of course at some level a higher minimum wage would cost jobs. We can't solve our problems by raising the minimum wage to $1 million an hour. But it appears there is significant room to increase our current minimum wage without costing jobs.

    "The true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals." - Barack Obama

    by HeyMikey on Wed Feb 13, 2013 at 07:26:15 PM PST

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