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Study: The 2007 minimum wage hike cost more than 1 million jobs during the recession

buck

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Seems common sense to me, but i'm sure we'll still have people arguing that the CBO and this study are just wrong and it's all "win" for MW workers.

Study: The 2007 minimum wage hike cost more than 1 million jobs during the recession

Clemens and Wither used data from the Census Bureau's Survey of Income and Program Participation to estimate the degree to which the minimum wage bumps affected "targeted" workers — those most likely to be affected by these bumps. They were able to take advantage of the fact that many states set their minimum wage higher than the federal minimum, so when a federal minimum wage hike takes effect the actual impact varies state by state. By comparing outcomes in states with large minimum wage hikes to those with small ones, they calculated how much the higher minimum wage affected the labor market.

The authors determined the minimum wage increases lowered the employment-population ratio (the share of working-age adults who were employed) by 0.7 percentage points from 2006 to 2012. During that time, the ratio fell by almost 5 percentage points, from 63.4 percent in December 2006 to 58.6 in December 2012. So while that decline may look like it was all recession, in reality it was around 15 percent due to the minimum wage, according to this paper. As of December 2012, when the working-age population was around 201 million, those 0.7 percentage points would have equaled around 1.4 million fewer people working.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Seems common sense to me, but i'm sure we'll still have people arguing that the CBO and this study are just wrong and it's all "win" for MW workers.

Study: The 2007 minimum wage hike cost more than 1 million jobs during the recession

That's interesting and makes sense, since in times when a business tightens its belt the most dispensable workers are the first to go and most often those are deemed to be the lowest paid.

You'd have to look more deeply into the study than I did to determine if the ratio of workers in states with higher minimum wage rates was affected to a lesser extent or not at all to see if the federal minimum wage boost was as impactful as suggested.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

And here I thought a market crash cost all those jobs...
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

And here I thought a market crash cost all those jobs...

Why bother with history when one can simply revision it?
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Why bother with history when one can simply revision it?


I haye when people " revision " History, dont you ?
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Of-course.

And to think this is all the Progressives have been able to muster up when it comes to offering up solutions to our economic issues.

Well I gake that back. Tax Increases, and '' stimulus to increase aggregate demand ".

All destructive platitudes that wind up hurting the Middle class
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

And here I thought a market crash cost all those jobs...

Good thing we have studies to determine what really occurred rather than just taking what Kevin thought occurred as gospel.

This study, whether you choose to believe it or not, determined that about 15% of the lost jobs were due to the minimum wage hikes.

So while that decline may look like it was all recession, in reality it was around 15 percent due to the minimum wage, according to this paper.

So while that decline may look like it was all recession, in reality it was around 15 percent due to the minimum wage, according to this paper. As of December 2012, when the working-age population was around 201 million, those 0.7 percentage points would have equaled around 1.4 million fewer people working.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Of-course.

And to think this is all the Progressives have been able to muster up when it comes to offering up solutions to our economic issues.

Well I gake that back. Tax Increases, and '' stimulus to increase aggregate demand ".

All destructive platitudes that wind up hurting the Middle class

Um, that increase in the minimum wage came during the Bush administration. So you think Bush is a progressive? :mrgreen:
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Who cares about losing ****ty jobs like that? You guys don't care that millions of those low-paying, ****ty jobs have been added under Obama, but you care that a million was lost by raising the minimum a bit?
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Who cares about losing ****ty jobs like that? You guys don't care that millions of those low-paying, ****ty jobs have been added under Obama, but you care that a million was lost by raising the minimum a bit?
Ideally, those who actually care about the working poor.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Um, that increase in the minimum wage came during the Bush administration. So you think Bush is a progressive? :mrgreen:

Sure looks like it, so YOU should stop bashing him.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Yeah, perhaps if we didn't suffer from one of the worst financial crises in our history coupled with the uncertainty of not knowing if Obama was gonna play ball during the same time of this study, this might still be considered BS...

Lies, Damn Lies, and Statistics.

Companies didn't hire them workers because they A. Didn't need them or B. Put the additional burden on existing employees. LIKE THEY ALWAYS DO.

Blow smoke up someone else's ass and tell'em their back's on fire...
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Our national minimum wage is £6.50 an hour..$10.22..Then tax and national insurance are taken out..(without your permission, before you receive your wages!)which gives you £940 a month after tax..
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Yeah, perhaps if we didn't suffer from one of the worst financial crises in our history coupled with the uncertainty of not knowing if Obama was gonna play ball during the same time of this study, this might still be considered BS...

Lies, Damn Lies, and Statistics.

Companies didn't hire them workers because they A. Didn't need them or B. Put the additional burden on existing employees. LIKE THEY ALWAYS DO.

Blow smoke up someone else's ass and tell'em their back's on fire...

I'm sure it's just a coincidence that the states that raised their minimum wage the highest just happened to be the states that saw the worse employment opportunity for those of lower skill. I'm sure those two situations really have nothing to do with each other and employers don't find other ways to handle an effective wage increase of 30%.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Maybe we should do away with minimum wage I'm sure that will create jobs.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Maybe we should do away with minimum wage I'm sure that will create jobs.
If you think about it, it would actually create jobs. There is really no question about that.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Ideally, those who actually care about the working poor.

If you cared about the working poor, you would want less of those jobs. Working those jobs is an accurate description of what Hell must be like.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

If you cared about the working poor, you would want less of those jobs. Working those jobs is an accurate description of what Hell must be like.

Much better to be unemployed I'm sure.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Much better to be unemployed I'm sure.

Likely. I don't buy this study. But I'd like to see more on it. Overall, people making more means they spend more. If they spend more, everyone benefits. Making our workers third world workers won't help the economy. As I understand it, accounting for inflation, we make less today and not more. The trouble with our economy may well be more related to not paying enough.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Much better to be unemployed I'm sure.

Is it? There is no shortage of these jobs. Has anyone, ever in the history, not been able to find a minimum wage job for an extended period of time? I don't think it's a big concern. No one is out there going, "God dammit, I can't get a job paying minimum wage at McDonalds or Walmart anymore!".

But hey, it's their bed so they should lay in it right? If they just worked harder they could have a better job anyway.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

Likely. I don't buy this study. But I'd like to see more on it. Overall, people making more means they spend more. If they spend more, everyone benefits. Making our workers third world workers won't help the economy. As I understand it, accounting for inflation, we make less today and not more. The trouble with our economy may well be more related to not paying enough.

They make more causing higher prices to cover the increased labor costs. The poor are in the same (relative) spot they were in (after a little time has passed) ... and the middle class, whose dollars will now purchase less, are in a worse spot.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

They make more causing higher prices to cover the increased labor costs. The poor are in the same (relative) spot they were in (after a little time has passed) ... and the middle class, whose dollars will now purchase less, are in a worse spot.

As I said, that's short sighted. What should happen is a lowering of prices or them staying the same as business will likely increase. Again, spending more leads to buying more. If we were to return to where we paid more overall, rolling back the redistribution of wealth upward toward the wealthy, empowering the middle class more, and having less working poor, the economy would grow and not shrink.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

If you think about it, it would actually create jobs. There is really no question about that.

As would allowing slavery.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

They make more causing higher prices to cover the increased labor costs. The poor are in the same (relative) spot they were in (after a little time has passed) ... and the middle class, whose dollars will now purchase less, are in a worse spot.

The increase in prices is not the same percentage as the increase in wages.
 
Re: Study: The 2007 minimum wage hike cost more than 1 million jobs during the recess

As would allowing slavery.
Except no one is advocating that. You really should be able to tell the difference between voluntary employment and slavery at this point.
 
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