'Living wage' measures hurt the young, unskilled workers the most
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'Living wage' measures hurt the young, unskilled workers the most
- July 16, 2013
- David Neumark, economics Chancellor's Professor and Center for Economics & Public Policy director, is quoted in the Washington Examiner July 16, 2013
From the Washington Examiner:
District of Columbia City Council members have approved "living wage" legislation
that would require large retailers and their subcontractors to pay employees $12.50
an hour. Mayor Vincent Gray should veto the Large Retailer Accountability Act of 2013,
aimed at six new Wal-Mart stores, because it would hurt economic activity in the District
and reduce employment and shopping opportunities for local residents… According to
University of California, Irvine professor David Neumark, "the adverse effects of
living wages fall more heavily on the least-skilled individuals, who are least likely
to be employable after a mandated wage increase is enacted." Job markets are dynamic,
and workers earn more with greater experience. Take away initial job opportunities,
and the "living wage" movement condemns millions of young Americans to unemployment,
to a loss of opportunity, and to a lesser future.
For the full story, please visit http://washingtonexaminer.com/living-wage-measures-hurt-the-young-unskil.....
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