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Minimum Wages and Their Impact on Jobs

According to today’s Mansfield, Ohio “News Journal,” unemployment for young people is at its worst since 1947. That’s not to mention the current unemployment rate of 9.7%, which the Wall Street Journal described last Thursday as “still persistently high.”

If you’ve been wondering how the minimum wage is a “job-killer,” a new video from the Center for Freedom and Prosperity “explains their job-killing impact. Orphe Divounguy, a graduate student from the University of Southampton in England, explains that minimum wage laws hinder the ability of low-skilled workers to get jobs. “how the minimum wage hurts young workers and others with low skill levels.”

The video’s executive summary reads:

“Minimum wage laws seem like a good idea, but arbitrarily mandating a certain wage can have terrible consequences. Business are not charities, so if the minimum wage is set above the market level, this eliminates job opportunities - particularly for the less fortunate members of society. Since employees and employers should have freedom of contract, the right minimum wage is zero.”

To watch the "Job-Killing Impact of the Minimum Wage" video via You Tube, click here.

To view other CF&P video, visit the click-on the CF&P website.

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