How Minimum Wage Affects the Job Hunt

http://liveshots.blogs.foxnews.com/2009/12/14/how-minimum-wage-affects-the-job-hunt/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+foxnews%2Flatest+%28FOXNews.com+-+Latest+Headlines%29

They examined sixty years of data and concluded the minimum wage actually cuts down on job opportunities and even wages, over time, for low-skilled workers.

“A small number -- and it depends how big the minimum wage increase is -- will lose their job.
“Some people entering the labor market for the first time, or, you know, anew, will not be able to find a job because of the higher minimum wage."

The last bump for the minimum wage was this past July, a seventy cent increase to $7.25 an hour.

Minimum Wage Increase will Cause a Loss in 300,000 jobs

http://online.wsj.com/article/SB124476823767508619.html

"Based on 20 years of research, I doubt there is ever a goodtime to raise the minimum wage. However, with the aggregate unemployment rate at 9.4%, the teen unemployment rate exceeding 22%, and the unemployment rate for black teens nearing 40%, next month's increase seems like the worst timing possible."

"The best estimates from studies since the early 1990s suggest that the 11% minimum wage increase scheduled for this summer will lead to the loss of an additional 300,000 jobs among teens and young adults. This is on top of the continuing job losses the recession is likely to throw our way."