New data out showing a national breakdown of people who get paid minimum wage in each state. While politicians and special interest groups shout for higher wages, workers have already moved out of minimum wage pay. Here’s the chart from Business Insider(full article here)
The percentage earning minimum wage or less falls even further when you include all workers, not just hourly paid workers.
If you are interested, I wrote a short post (450 words) called “Why a Higher Minimum Wage Can Result in a Lower Unemployment Rate.” I am open to any feedback on it: https://christopherjohnlindsay.wordpress.com/2016/05/11/minimum-wage-unemployment/
LikeLike
Nice write up. Many have pointed that our unemployment rate done by government is actually mismanaged numbers. Many Austrian economic economists want the original formula form the 1970’s to show our true rate. I’ve seen ranges of our unemployment rate being anywhere from 14-22% with the old calculations.
LikeLiked by 1 person
How are true unemployment rates estimated at all? There are many people who are unemployed who aren’t receiving unemployment pay, but are still out of a job and looking. There are people like me, who are stay at home moms just starting to get back into the work force. How do they count for people like us?
LikeLike