What impact does the minimum wage have on unemployment? Net Job Loss of over 2MM!

What impact does the minimum wage have on unemployment? ‘Ironman’ looks at the data between 2006 and present, and concludes that 41.8% of the unemployment produced between these years have been caused by the minimum wage. He writes that there has been a fall in minimum wage earners of 2.2 million jobs, while total decrease in the labor force constituted roughly 5.3 million. The data, admittedly, is a bit shoddy, given that there isn’t only one reason for the number of minimum wage earners and the civilian labor force to fall, but I think the figure provides a good insight at the effect of minimum wage, nonetheless. (H/T Tyler Cowen.)Follow this link and scroll down a bit to see this analysis….Thanks economicthought.net
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