Special Report on
Federal Minimum Wage Law
Federal Minimum Wage Law - Trends
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There is a growing view among economists that the minimum wage offers substantial benefits to low-wage workers without negative effect. Although there are still dissenters, the best recent research has shown that the job loss reported in earlier analyses does not, in fact, occur when the minimum wage is increased. There is little question that the overall impact of a minimum wage is positive, as the following facts make clear: If the minimum wage were increased nationally to $7.25: o 14.9 million workers would receive a raise, o 80% of those affected are adults age 20 or over, and o 7.3 million children would see their parents ...
For a time now my editor Rick Stengel has been asking the question: Why won't unemployment stay at around 10%. That is to say, even after the economy pulls out of the recession how do we know that unemployment won't remain where it is today. Perhaps 10% is the new 5%, when it comes to unemployment. We have afterall outsourced many of our manufacturing jobs and some of our service jobs to China, India and elsewhere. So if we make a lot less than we used to and do a lot less than we used to, whose to say that unemployment won't remain stubbornly high, no matter which way the ... Read More
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