Tag Archive: minimum wage

Aug
15

Youth Employment and The Last 30 Years of the Minimum Wage in the United States

The below chart illustrates the impact of minimum wage changes on the youth (aged 16-19) employment rates in the US over the last thirty years. The red line represents the real minimum wage from 1983-2012 (in 2012 $ x 7 for scale purposes) as provided by the US Department of Labor.  The blue line represents …

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Permanent link to this article: http://wkubbtcenter.com/2014/08/15/youth-employment-and-the-last-30-years-of-the-minimum-wage-in-the-united-states/

Sep
05

Minimum Intelligence: Recent History of the Minimum Wage and Teenage Employment

Between 1955 and July 2013, the employment rate of teenagers aged 16-19 fell from 43.4% to 26.6%.  Rising family incomes surely allowed some youngsters to avoid the workforce altogether and rely on their parents for their material needs and wants.  However, rising incomes is only a small part of the story. The teenage unemployment rate …

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Permanent link to this article: http://wkubbtcenter.com/2013/09/05/minimum-intelligence-recent-history-of-the-minimum-wage-and-teenage-employment/

Feb
11

Economic Hail Maries

Now that American rules football is over for the season, and the Pope has resigned, people may fear for a drought of Hail Maries.  No worries.  Politicians who have enacted growth retarding economic policies continue to supply economic Hail Maries.  Even then, they don’t always know which end zone to aim for. To combat runaway …

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Permanent link to this article: http://wkubbtcenter.com/2013/02/11/economic-hail-maries/

Aug
31

Unemployment and the Unemployable

The US unemployment rate rose to 8.3% in July and Jobless claims in August have risen by 10,000 over July.  The slowly growing US economy is not denting the 8% unemployment rate.  Keynesian economists believe that this must be due to some lack in demand for US goods and services.  If only Congress could borrow …

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Permanent link to this article: http://wkubbtcenter.com/2012/08/31/unemployment-and-the-unemployable/

Feb
10

Capitalism: Because we Care about the Poor – and Everyone Else

A true capitalist thinks there are two groups of people, the rich, and the soon to be rich.  A true capitalist understands that engaging in voluntary exchanges made by private individuals in the context of clearly defined and protected property rights, makes each party engaged in the trade better off.  A true capitalist would never …

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Permanent link to this article: http://wkubbtcenter.com/2012/02/10/capitalism-because-we-care-about-the-poor-%e2%80%93-and-everyone-else/