Tag: minimum wage
-
Saturday Links
—
by
in Africa, Asia, Business, Capitalism and Markets, Central America, China, Christian Life, Demography, Ecclesia, Economic Development, Economics, Health and Medicine, History, Immigration, International Affairs, Links – Saturday, Politics, Race, Religion, Science, Sociology, South America, Sports and Entertainment, Technology, Technology (Biotech & Health), Technology (Energy), Technology (Manufacturing & Construction)), Technology (Transportation & Distribution), Wealth and Income, Weatlh and Income Distribution1. Christian History magazine has an entire issue devoted to Christians in the New Industrial Economy: The World Changed, the Church Responded. It is a priceless collection of essays on how various religious traditions responded to (or failed to) the challenges of the Industrial Revolution. Issue 104 examines the impact of automation on Europe and…
-
Would raising the minimum wage destroy jobs?
Christian Science Monitor: Would raising the minimum wage destroy jobs? Since President Obama proposed an increase in the federal minimum wage in the U.S., from $7.25 per hour to $9 per hour and then index it to inflation, the debate has been raging about whether or not this would make low wage workers better paid…
-
Saturday Links
1. The new global top dog in international trade is China. China Eclipses U.S. as Biggest Trading Nation "U.S. exports and imports of goods last year totaled $3.82 trillion, the U.S. Commerce Department said last week. China's customs administration reported last month that the country's trade in goods in 2012 amounted to $3.87 trillion." 2.…
-
The Benefits and Perils of the Minimum Wage
Economist: The argument in the floor Evidence is mounting that moderate minimum wages can do more good than harm … America’s academics still do not agree on the employment effects. But both sides have honed their methods and, in some ways, the gap between them has shrunk. Messrs Card and Krueger moved on to other…
-
Higher costs forcing firms to relocate (from China)
China Daily: Higher costs forcing firms to relocate Jobs going to other countries in China's 'great industry transfer' Rising wages and shrinking export demand are forcing manufacturers to relocate to neighboring Southeast Asian nations and many that remain are seriously considering moving, a foreign trade official from the Ministry of Commerce said. The official, who…
-
Prosperity for Today’s Teenagers Versus Their Grandparents
Carpe Diem: Young Americans: Luckiest Generation in History … In 1952, the minimum wage was $0.75 per hour (equivalent to $6.39 in today's dollars), and a full-time summer job at 40 hours per week for 12 weeks would have generated $360 in total summer earnings (ignoring taxes). Using retail prices from a 1952 Sears Christmas…
-
Rising Minimum Wage Raises Teen Unemployment
Here are three graphs from two posts by Mark Perry (Source). He produced these in response to a Wall Street Journal article, The Lost Wages of Youth. "Excess" Teenage Unemployment vs. Minimum Wage (Source) My take is that the minimum wage benefits those who already have a minimum wage job and have some skills.…
-
Oregon’s 12.1% Unemployment, 2nd Highest in US: Is The $8.40 Per Hour Minimum Wage to Blame?
Carpe Diem (Mark Perry): Oregon's 12.1% Unemployment, 2nd Highest in US: Is The $8.40 Per Hour Minimum Wage to Blame? Is Oregon's high minimum wage partially to blame for the state's 12.1% unemployment rate, second highest in the nation (only Michigan is higher at 12.6%, see chart above of Oregon's jobless rate in blue vs.…
-
The New Economics of the Minimum Wage – Another Finding that the Demand for Unskilled Labor Slopes Down
Market Power: The New Economics of the Minimum Wage – Another Finding that the Demand for Unskilled Labor Slopes Down From Kalenkoski and Lacombe comes this new paper on the effect of the minimum wage on teenage employment. Abstract: The relationship between minimum wage increases and youth employment is investigated using county-level data and spatial…
-
Minimum Wage, Maximum Suffering
Acton Commentary: Minimum Wage, Maximum Suffering by Robert Sirico The minimum wage is going up but in real terms—that is, adjusted for inflation—but it has generally fallen since its height in 1968, at which point it exceeded $9 in today's dollars. The unemployment rate was at 6 percent and it would go higher and higher…