Minimum Wage Tradeoffs Go beyond Jobs

I’m quoted in a Daily Signal writeup on several policy issues the new administration will be active on in the coming months. My quote is on the minimum wage:

However, the economic impact isn’t limited to jobs, said Ryan Young, a senior fellow at the Washington, D.C.-based Competitive Enterprise Institute. 

“The biggest trade-off and negative effect would not be job loss, but non-wage pay decrease,” Young told The Daily Signal. “Employers would cut tuition payments, benefits, and it would mean more work for the employees if positions aren’t filled.”

Young added that the economic impact could be harsh, but noted that the average for state minimum-wage laws nationally is “in the neighborhood” of $12 per hour. So, the proposed increase itself for many states would not be more than double. 

Read the whole thing here.

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