Economics @ ITT

Ending Minimum Wage Won’t Create Many Jobs

Posted in economics, employment, microeconomics, Policy Issues by ittecon on July 6, 2011

Republican Presidential candidate Michele Bachmann has soft-pedaled her opposition to the minimum wage law considerably since 2005, when she was quoted as saying, at a Minnesota State Senate hearing, “Literally, if we took away the minimum wage — if conceivably it was gone — we could potentially virtually wipe out unemployment completely because we would be able to offer jobs at whatever level.”

Ending minimum wage won’t create many jobs.

What’s wrong with this logic?

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One Response

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  1. missdisplaced said, on July 6, 2011 at 9:00 am

    I remember my first two “jobs” where, because I wasn’t 18, the employer didn’t have to pay me minimum wage.

    First was cleaning motel rooms. The other ladies got then minimum wage of $3.35/hr. I got paid $2.85/hr. Guess what, I cleaned crappers just as good. It made me SO mad. The also stole our tips!

    Second job was at a large supermarket chain. Again, I got paid $3.00/hr. because I was not 18. I was the best cashier there! My drawer was always balanced and correct, and eventually I worked in the office closing out. Still for LESS than minimum wage until I turned 18 in 1985.

    What a ripoff! If MW was taken away, companies would only exploit like this again, only on a larger scale.


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