http://en.wikipedia.org/wiki/Minimum...r_consequences
"Statutory
minimum wages were also proposed as a way to control the proliferation of sweat shops in manufacturing industries. The sweat shops employed
large numbers of women and young workers, paying them what were considered to be substandard wages. The sweatshop owners were thought to have unfair bargaining power over their workers, and a minimum wage was proposed as a means to make them pay "fairly". "
"Direct empirical studies indicate that anti-poverty effects in the U.S. would be quite modest, even if there were no unemployment effects. Very few low-wage workers come from families in poverty. Those primarily affected by minimum wage laws are teenagers and low-skilled adult females who work part time"
"
In 2006, the International Labour Organization (ILO)[6]
argued that the minimum wage could not be directly linked to unemployment in countries that have suffered job losses. In April 2010, the Organisation for Economic Co-operation and Development
(OECD)[47] released a report arguing that countries could alleviate teen unemployment by “lowering the cost of employing low-skilled youth” through a sub-minimum training wage. A study of U.S. states showed that businesses' annual and average payrolls grow faster and employment grew at a faster rate in states with a minimum wage.[48] The study showed a correlation, but did not claim to prove causation."
"
Although strongly opposed by both the business community and the Conservative Party when introduced in 1999, the minimum wage introduced in the UK is no longer controversial and the Conservatives reversed their opposition in 2000.[49] A review of
its effects found no discernible impact on employment levels.[50] However, prices in the minimum wage sector were found to have risen significantly faster than prices in non-minimum wage sectors, most notably in the four years following the implementation of the minimum wage.[51]"
"Since the introduction of a national minimum wage in the UK in 1999, its effects on employment were subject to extensive research and observation by the Low Pay Commission. The Low Pay Commission found that, rather than make employees redundant, employers have reduced their rate of hiring, reduced staff hours, increased prices,
and have found ways to cause current workers to be more productive (especially service companies).[52]
Neither trade unions nor employer organizations contest the minimum wage, although the latter had especially done so heavily until 1999"
i find think link pretty helpfull with some of the quote i put here.
Plus if britain conservative can do it, US conservatism can too
!
main point is if MW cost job, its teenage and part time job being concerned and the effect is minimum and can be even almost non existant, tho the benefit are obvious on hugely larger scale
ps:
- "According to a 1978 article in the American Economic Review, 90 percent of the economists surveyed agreed that the minimum wage increases unemployment among low-skilled workers."
- "Until the 1990s, economists generally agreed that raising the minimum wage reduced employment"
- "A 2000 survey by Dan Fuller and Doris Geide-Stevenson reports that of a sample of 308 American Economic Association economists, 45.6% fully agreed with the statement, "a minimum wage increases unemployment among young and unskilled workers...
that the reduction on consensus on this question is "likely" due to the Card and Krueger research and subsequente debate."
- " In 2007, Klein and Dompe conducted a non-anonymous survey of supporters of the minimum wage who had signed the "Raise the Minimum Wage" statement published by the Economic Policy Institute.
They found that a majority signed on the grounds that it transferred income from employers to workers, or equalized bargaining power between them in the labor market. In addition, a majority considered disemployment to be a moderate potential drawback to the increase they supported"
it seem to me the trend is pretty clear in favor of MW