Source: The Hill
Here we go again. In a sure sign that it’s an election year, advocates for a higher minimum wage have renewed their efforts to make President Obama’s promise of a $9.50 federal minimum wage come true. In a recent op-ed, the union-backed Economic Policy Institute (EPI) chimed in, re-hashing the familiar progressive case that labor costs don’t factor in to hiring decisions.
Ironically, both EPI and President Obama have supported a higher minimum wage while simultaneously lamenting the current lack of employment opportunities for young adults. The evidence suggests that accomplishing that second goal means giving up on the first.
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