Wednesday, July 8, 2009

Minimum-wage folly

By Jeff Jacoby

"This will mark the third time in recent years that Washington has forced up the cost of employing low-skilled workers. Last July the minimum hourly wage was increased from $5.85 to $6.55; the July before that, from $5.15 to $5.85. By the end of this month, in other words, the lowest rung on the employment ladder will be nearly 41 percent higher than it was just two years ago. Needless to say, that will put it beyond the reach of many marginal workers, leaving them without work."

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