China accounts for nearly 25% of the global labor force, and is therefore a suitable country on which to analyse the effects of minimum wage policies in the developing world. Studying changes in minimum wage in 2,400 counties and for 70% of China’s maufacturing workforce, Prakash Loungani of the IMF finds that a 10% rise in the minimum wage reduces employment by over 1%, the effect closer to 2% for low-wage firms. capx.co/higher-minimum-wages-in-china-reduce-employment/
Posted on: Mon, 27 Oct 2014 08:39:02 +0000
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