Recession

  • 05.05.16

    Raise Wages, Kills Jobs?

    Everyone has heard the argument that "if we raise the minimum wage, we will lose jobs" in some form or another. This report by the National Employment Law Project uses historical data to test whether that has been the case. It investigates the 22 times that the United States has raised the minimum wage by looking ...

    Everyone has heard the argument that "if we raise the minimum wage, we will lose jobs" in some form or another. This report by the National Employment Law Project uses historical data to test whether that has been the case.

    It investigates the 22 times that the United States has raised the minimum wage by looking at employment trends during the 12 months prior to the minimum wage increase and the 12 months after to the minimum wage increase. 

    The report finds that the "basic economic indicators show no correlation between federal minimum-wage increases and lower employment levels, even in the industries that are most impacted by higher minimum wages." In fact, it finds that for a majority of the instances (68%) overall employment increased after the minimum wage was increased. In addition, of the only eight times when employment decreased after minimum wage hikes, the United States was in a recession or in close proximity to one in every instance. 

     

  • 10.24.11

    From Frustration To Prosperity

    "The American people are frustrated." In this article the Honorable Nina Turner looks at the frustration of the lower and middle class - those that have been worst hurt by the recession and slow recovery. She states "They are frustrated about the flat-lined economic recovery, the lack of jobs and the failed hous...

    "The American people are frustrated."

    In this article the Honorable Nina Turner looks at the frustration of the lower and middle class - those that have been worst hurt by the recession and slow recovery. She states "They are frustrated about the flat-lined economic recovery, the lack of jobs and the failed housing market.  They are frustrated that while they struggle to pay their bills with stagnant or falling incomes those at the top have rebounded; surviving the crisis relatively unscathed." Turner argues that this frustration has shown itself in both the Occupy and Tea Party movement. 

    Turner offers examples of what the private sector and government can do to address these ails. Ultimately she argues that "to do nothing is to fall behind, but by making strategic investments now we can maintain our competitive edge and lay a foundation of prosperity for generations to come."

    Americans "are fed up, and they have decided that they are not going to take it anymore."