Showing posts with label Ben Bernanke. Show all posts
Showing posts with label Ben Bernanke. Show all posts

Monday, February 13, 2012

Inflation-Adjusted Minimum Wage vs. Unemployment



My interpretation of this chart is that significant increases in the federal minimum wage tend to cause spikes in unemployment, usually with a delay of up to three years.

Clinton's 2nd term is the only time period that shows a delay of more than a few years. I would attribute this delay of the inevitable to the bursting of the dot-com bubble (March 2000) and 9/11.

The only time period that doesn't fit my conclusion is the Kennedy administration and the early years of Johnson's Great Society.
The minimum wage went up 40% in the last two years of the Bush administration, and an additional 8 million people filed for unemployment over the next several years.

In 2009, Obama expressed interest in raising the wage to $9.50. By my estimates, this would have put another
5 to 6 million people in the unemployment lines.


For more entries on banking, the treasury, currency, inflation, and business, please visit:
http://www.aquarianagrarian.blogspot.com/2014/05/response-to-campaign-for-liberty.html


For more entries on employment, unemployment, the minimum wage, and Right-to-Work, please visit:

Links to Documentaries About Covid-19, Vaccine Hesitancy, A.Z.T., and Terrain Theory vs. Germ Theory

      Below is a list of links to documentaries regarding various topics related to Covid-19.      Topics addressed in these documentaries i...