The Minimum Wage and the Great Recession: Evidence of Effects on the Employment and Income Trajectories of Low-Skilled Workers
Published By: National Bureau of Economic Research | Published Date: January, 16 , 2015The paper estimates the minimum wage's effects on low-skilled workers' employment and income trajectories. The increased binding minimum wage had significant, negative effects on the employment and income growth of targeted workers. Lost income reflects contributions from employment declines, increased probabilities of working without pay (i.e., an "internship" effect), and lost wage growth associated with reductions in experience accumulation.
Author(s): Jeffrey Clemens, Michael Wither | Posted on: Jan 19, 2015 | Views(838) | Download (1107)