Commodity Trade Mantra

Posts Tagged ‘Minimum Wages’

What's the Real Unemployment Rate in the U.S.?

The unemployment rate of 5.6% reflects nearly full employment, as 3% to 4% of the work force is in the process of quitting/being laid off & finding another job. By my reckoning, roughly 60% of the civilian work force is fully employed & 40% are marginally employed or unemployed. What qualifies as a job? Should we count someone who earns $1,000 a year as employed?

Economic Illiteracy is Alive and Well

As an academic and economist, few things are as frustrating and mind-boggling as the fervor with which people embrace and display their economic illiteracy. It appears some, and an increasing number of them, consider it to be a quality or even a moral advantage to remain ignorant of basic economics.

Even the Fed Admits Minimum Wages Cause Unemployment

Minimum wage doesn’t apply to everyone. As economists have shown, minimum wage doesn’t help the lower class. It prohibits employers from hiring anyone whose earning or productive capacity is below the enforced minimum hourly wage, creating permanent unemployment among the least productive people.

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