Jobs and New Minimum Wage

[tarheel]

I suspect Chip will understand this better than most.

<excerpt>
Yesterday's September labor market report was lousy by any measure, with 263,000 lost jobs and the jobless rate climbing to 9.8%. But for one group of Americans it was especially awful: the least skilled, especially young workers. Washington will deny the reality, and the media won't make the connection, but one reason for these job losses is the rising minimum wage.
Earlier this year, economist David Neumark of the University of California, Irvine, wrote that the 70-cent-an-hour increase in the minimum wage would cost some 300,000 jobs. Sure enough, the mandated increase to $7.25 took effect in July, and right on cue the August and September jobless numbers confirm the rapid disappearance of jobs for teenagers.



Full article is at http://tinyurl.com/yd9rkph

[curious]

How's that "Change" working for you, now? Now, this is change "you can believe in". I'm glad the Olympic Committee had the good sense to cut out Obama in the first round, too. And just look at how successful the "Clunkers" program worked out. Instead of putting people in houses that they can't afford, he put them in cars that they can't afford + took a lot of affordable cars off the market. What genius.

[countryboy]

What do ya mean the US lost more jobs?. All lies I say,it just didnt happen. According to Obama ,his district of criminal cohorts and his Globalist friends everyone one should be working at min. wage.They said theres plenty of new jobs to go around. All ya have to do is join his Youth core or become a czar.:confused: Get to work now before we impose martial law and have your streets patroled with foreign mercs.:eek: And dont forget to take your shots.We need less population.:mad:

Change you can believe in.

[KINGCHIP]

The biggest issue is why to hire kids and put up with parents, teachers, coaches, etc. There are not many people paying minimum, but the rise certainly makes you think about it.