Comment on Opinion: Increasing the minimum wage comes at too high a price for workers | CNN
autotldr@lemmings.world [bot] 4 months ago
This is the best summary I could come up with:
Editor’s Note: Rachel Greszler is a senior research fellow in workforce and public finance at the Roe Institute at The Heritage Foundation, a conservative thinktank in Washington, DC.
She is also a visiting fellow in workforce at the Economic Policy Innovation Center, a pro-growth research group that advocates for less government intervention.
Across the country, some of the hardest hit among the millions of people impacted by job losses or reduced hours following minimum wage increases are fast-food workers.
Pay increases that result from government mandates can eliminate entry-level job opportunities and lead to a cascade of other unintended consequences.
In short, high minimum-wage laws cut off the bottom rung of the career ladder, effectively pricing the least-advantaged workers out of employment.
In South Carolina, researchers found that the most recent minimum wage hike reduced employment by 8.9% for teens, and by 15.5% for workers with less than a high school diploma.
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