When I was 16, I had three job opportunities: flip burgers, box groceries, or work after school at the local radio station. I took the lowest paying job of the three options and became, “E.J. the D.J.” for minimum wage: $2.35 an hour and 29 hours a week. If the burgers I didn’t flip couldn’t gag you, my radio name did! Many states now restrict hiring minors. Is this how fast food starter jobs became career paths? Society celebrates starter marriages, but denigrates starter jobs, but I digress. Even in High School, I knew that “E.J. the DJ” was a limited life long career path. Pardon my “E.J. the Amateur Economist” shtick, but anyone demanding raising the minimum wage and currently working what was intended as a starter job is facing an unpleasant economic reality. Wage and price equilibrium will eventually turn $15 an hour entry-level jobs into fewer jobs. Inflation will then eats up the short-term effects of government- mandated raises. Increasing the minimum wage is the economic equivalent of getting burned by the fries you ordered. bit.ly/1lU2Q8e Eagles Rising #raisethewage
Posted on: Tue, 09 Sep 2014 20:33:43 +0000
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