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Monday, June 09, 2008

Is the minimum wage behind higher unemployment?

Mark Perry makes the case that the recent uptick in unemployment in the US is partially due to the increase in the federal minimum wage (and the pending increase next month).

His evidence is that the bulk of the increase in unemployment is in the 16-19 year old range and the 20-24 year old range – i.e. those who often earn minimum wage or slightly above.