Site for Free Markets and Free People

Friday, July 01, 2011

Teen Employment Predictably Plummets

While Democrats seem oblivious to the simple laws of economics, the reality of teen unemployment this summer is clear. As the WSJ points out, raising the minimum wage from $5.15 to $7.25 per hour has had a significant negative effect on teenager hiring, particularly among black teens, whose unemployment rate went from 29% to 41.6%.

And their policies have worked so well that the Obama White House is now thinking of raising it again to $8.25, somehow arguing that this will actually create jobs.

This is what we get when an administration has fewer than 10% of its bureaucrats with any private sector experience...