Minimum Wage and Unemployment (user search)
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  Minimum Wage and Unemployment (search mode)
Pages: [1]
Poll
Question: If the minimum wage were abolished, what effect would it have on unemplyoment?
#1
Greatly Decrease		  
#2
Slightly Decrease		  
#3
No change		  
#4
Slightly Increase		  
#5
Greatly Increase		  
Show Pie Chart
Partisan results
Total Voters: 34

Author Topic: Minimum Wage and Unemployment  (Read 3557 times)
TheresNoMoney
Scoonie
Junior Chimp
*****
Posts: 7,907


Political Matrix
E: -3.25, S: -2.72
« on: September 15, 2005, 01:38:33 PM »
Unemployment would either stay the same or slightly decrease, but median wages would go down and poverty would slightly increase.

The federal minimum wage should be increased to about $7.25 an hour in my opinion.
Logged
TheresNoMoney
Scoonie
Junior Chimp
*****
Posts: 7,907


Political Matrix
E: -3.25, S: -2.72
« Reply #1 on: September 15, 2005, 01:39:40 PM »
Quote from: A18 on September 15, 2005, 01:34:06 PM
Slightly decrease, but that's not what it should be repealed. It should be repealed because it's immoral.

The lack of a minimum wage is immoral.
Logged
TheresNoMoney
Scoonie
Junior Chimp
*****
Posts: 7,907


Political Matrix
E: -3.25, S: -2.72
« Reply #2 on: September 15, 2005, 01:52:46 PM »
Quote from: A18 on September 15, 2005, 01:44:25 PM
If unemployment stays the same, median wages should not go down since the people affected will be at the bottom of the scale. There is no ripple effect.

You're correct on that.

Most likely unemployment slightly decreases and the average wage also slightly decreases.
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TheresNoMoney
Scoonie
Junior Chimp
*****
Posts: 7,907


Political Matrix
E: -3.25, S: -2.72
« Reply #3 on: September 15, 2005, 03:13:19 PM »
Economic theory does not always hold true in the real world. For any economic theory, you can find statistics that have disproven it.
Logged
TheresNoMoney
Scoonie
Junior Chimp
*****
Posts: 7,907


Political Matrix
E: -3.25, S: -2.72
« Reply #4 on: September 15, 2005, 05:44:35 PM »
Quote from: pellaken on September 15, 2005, 05:13:29 PM
people always told me that no minimum wage would mean no real change in wages.

then I learned that on oklahoma the minimum wage is 2.50 an hour.

That's not possible. The federal minimum wage is $5.15 an hour.
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