Pros And Cons Of Raising The Minimum Wage
Many believe that with the increase in government set minimum wage that the unemployment rate will increase. But according to the United States Department of Labor they prove how the effects of unemployment in relation to wage growth is negligible. Six hundred economists debunked the myth that Americans will lose their jobs if there is a wage increase in a letter to President Obama. They stated that, “that increases in the minimum wage have had little or no negative effect on the employment of minimum-wage workers, even during times of weakness in the labor market.” Therefore raising the minimum wage will not have the damaging effects that many propose and believe. In an article from NPR, a quote from the Associated Press writes that there is data to show that in the states that have increased their minimum wage there has been a “0.85 percent increase in the average number of jobs in 13 states and 0.61 percent in the other 37 states.