Does raising the minimum wage reduce the number of low-wage jobs?

No.

"We also find no evidence of disemployment when we consider higher levels of minimum wages."

https://t.co/vlgagEHeyy

Minimum wage increases reduce crime.

https://t.co/1G1clXqF9t
When you increase the minimum wage, you decrease infant mortality among poor families.

https://t.co/iwW1FDsLYG
Increasing the minimum wage improves kids' health.

https://t.co/66DLHERpOJ
The minimum wage reduces racial income inequality.

https://t.co/wkn9Ajotlx
“We find that raising the minimum wage increases earnings growth at the bottom of the distribution, and those effects persist and indeed grow in magnitude over several years.”

https://t.co/bYuxhaieN4
https://t.co/1L8Hh6OqmX
"Overall the most up to date body of research from US, UK and other developed countries points to a very muted effect of minimum wages on employment...Importantly, this was
found to be the case even for the most recent ambitious policies."

https://t.co/SISetZLMMX
"This [meta-analysis] finds no statistically significant aggregate adverse employment effect of the national minimum wage [in the U.K.] and also no publication bias in the minimum wage literature."

https://t.co/Pw3t94wXZd

More from Economy

It's always been detached, and it's always made the real economy worse.

[THREAD] 1/10


What is profit? It's excess labor.

You and your coworkers make a chair. Your boss sells that chair for more than he pays for the production of that chair and pockets the extra money.

So he pays you less than what he should and calls the unpaid labor he took "profit." 2/10

Well, the stock market adds a layer to that.

So now, when you work, it isn't just your boss that is siphoning off your excess labor but it is also all the shareholders.

There's a whole class of people who now rely on you to produce those chairs without fair compensation. 3/10

And in order to support these people, you and your coworkers need to up your productivity. More hours etc.

But Wall Street demands endless growth in order to keep the game going, so that's not enough.

So as your productivity increases, your relative wages suffer. 4/10

Not because the goods don't have value or because your labor is worth less. Often it's actually worth more because you've had to become incredibly productive in order to keep your job.

No, your wages suffer because there are so many people who need to profit from your work. 5/10

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