In his new book, “Minimum Wages,” UC Irvine economics professor David Neumark warns against increasing the federal minimum wage, contradicting beliefs held by the now Democratically-controlled White House, Senate and House. According to Neumark, minimum wage increases hurt younger workers by pitting them against older, more skilled adults when competing for the same jobs. “Teenagers either wind up working less and thus have less work experience to draw from in the long run, or they quit school to work because they can make enough money to survive without a formal education,” Neumark said. The increase hinders their ability to acquire advanced skills and earn higher wages, he argues. The book hits shelves Friday, Nov. 7, and draws on 15 years of economics research.
New book explores minimum wage increase
In his new book, "Minimum Wages," UC Irvine economics professor David Neumark warns against increasing the federal minimum wage, contradicting…
November 5, 2008