Reader Tim tipped me off to an article refuting the WSJ article on the minimum wage and teen unemployment.
The plunge — which began on Bush’s watch and continued through his “boom” — took place during a period when the minimum wage was $5.15/hour and was not raised until 2007. No explanation for that inconvenient fact. Or the inconvenient fact that the teen employment/population ratio rose after the Sept. 1997 increase in the minimum wage to$5.15 (where it stayed until a decade later, when it went to $5.85).
Let me offer this information.
While the federal minimum wage did not increase until 2007 many states hiked minimum wages in years prior to that. In fact, Ohio's was increased via referendum November, 2006. I'm guessing that well over a third of the states increased the wage prior to Ohio, which might explain the drop prior to the
But just look at the map at the top.
The Blue states are states who follow the national minimum wage law. Green States are states who are higher. Notice how the green states tend to be the more "progressive" of these states.
Does anyone want to bet a lot of money on how the teen unemployment ranks between these states? Buehler? Buehler? Anyone?
Let me know and I'll take your money.