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Research presented evidence that past minimum-wage increases had not had the expected effect on employment. A rise in New Jersey’s minimum wage did not seem to slow hiring in fast-food restaurants in New Jersey relative to those in neighbouring Pennsylvania, they found. One explanation, some economists speculated, was that firms had previously been getting away with paying workers less than they were able, because workers were prevented from searching for better-paid work by the costs involved in changing jobs. That would mean that when wages were forced up, the firms were able to absorb the costs without firing anyone.

Economist keep being proved wrong time and time again that minimum wage increases will increased unemployment, yet they keep up their scaremongering.

It’s time to look at the historical facts and move forward. Corporate profits are through the roof, while wages have gone nowhere which means that corporations can absorb the increases in wages.

Source: The Economist explains: Why some economists oppose minimum wages | The Economist

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