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Podcast: Faith and Economics
Episode: Raising Minimum Wage Won’t Work? | #302
Description: Not raising the federal minimum wage of $7.25 since 2009 has been one of the best things for the American labor market. Learn the reasons for this as the Gwartney Economists explain how unemployment rises when the minimum wage is above market wage. Individual states like Arizona, have minimum wage above the market and are proposing yet another increase this fall from $14.35 to $18. What predictions can be made on unemployment, labor benefits, labor conditions, small business, inflation and other things we care about?