Concise Encyclopedia of Ecnomics - Minimum Wage Hurts Employment
http://www.econlib.org/library/Enc/MinimumWages.html
In a 1997 response to a request from the Irish National Minimum Wage Commission, economists for the Organization for Economic Cooperation and Development (OECD) summarized economic research results on the minimum wage: “If the wage floor set by statutory minimum wages is too high, this may have detrimental effects on employment, especially among young people.”[4] This agreement over the general effect of minimum wages is long-standing. According to a 1978 article in American Economic Review, 90 percent of the economists surveyed agreed that the minimum wage increases unemployment among low-skilled workers.[5]
4. Organization for Economic Cooperation and Development, OECD Submission to the Irish National Minimum Wage Commission, Labour Market and Social Policy Occasional Papers no. 28, 1997, p. 15.
5. Kearl, J. R., et al., “A Confusion of Economists?” American Economic Review 69 (1979): 28–37.
In a 1997 response to a request from the Irish National Minimum Wage Commission, economists for the Organization for Economic Cooperation and Development (OECD) summarized economic research results on the minimum wage: “If the wage floor set by statutory minimum wages is too high, this may have detrimental effects on employment, especially among young people.”[4] This agreement over the general effect of minimum wages is long-standing. According to a 1978 article in American Economic Review, 90 percent of the economists surveyed agreed that the minimum wage increases unemployment among low-skilled workers.[5]
4. Organization for Economic Cooperation and Development, OECD Submission to the Irish National Minimum Wage Commission, Labour Market and Social Policy Occasional Papers no. 28, 1997, p. 15.
5. Kearl, J. R., et al., “A Confusion of Economists?” American Economic Review 69 (1979): 28–37.
posted by tnj at 7:01 AM
0 comments
