Why Are There So Few Job Losses from Minimum-Wage Hikes?

Both proponents and opponents of federal minimum-wage hikes are convinced that if Congress raises the minimum wage (whether to $9 or $10.10 or $15 an hour) the welfare of tens of millions of low-income workers will rise by a comparable amount. The two sides disagree over the extent of the job losses low-wage workers will suffer, but both sides acknowledge that most econometric studies over the past half-century show that a 10 percent hike in the federal minimum wage results in job losses for unskilled workers of no more than 3 percent, and potentially less than 1 percent. Most recently, the Congressional Budget Office found that if the minimum wage is hiked to $10.10, expected job losses by 2016 will amount to a scant 0.3 percent of the jobs affected.

The Bite of Pet Costs

The Wall Street Journal: In response to retirees’ growing spending on pets and hobbies, NCPA Senior Fellow Pam Villarreal suggests that pet owners take advantage of low-cost vaccinations and double-check their vet’s medication prices against the marketplace in a Wall Street Journal article.