A survey of American economists found that 90 percent of them regarded minimum-wage laws as increasing the rate of unemployment among low-skilled workers.
Inexperience is often the problem: Only about 2 percent of Americans over the age of 24 earned the minimum wage.
Advocates of minimum-wage laws usually base their support of such laws on their estimate of how much a worker “needs” in order to have “a living wage” — or on some other criterion that pays little or no attention to the worker’s skill level, experience or general productivity. So it’s hardly surprising that minimum-wage laws set wages that price many a young worker out of a job.
What is surprising is that, despite an accumulation of evidence over the years of the devastating effects of minimum-wage laws on black teenage unemployment rates, members of the Congressional Black Caucus continue to vote for such laws.
Once, years ago, during a confidential discussion with a member of the Congressional Black Caucus, I asked how they could possibly vote for minimum-wage laws.