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When minimum wages are introduced or raised, are there fewer jobs? Global evidence says yes, according to IZA World of Labor author David Neumark. The benefits are clear: higher wages for the workers receiving them. The potential downside is that a higher minimum wage may discourage employers from using the low-wage, low-skill workers that these wages are intended to help. Research is not unanimous, but evidence from many countries suggests minimum wages reduce jobs available to low-skill workers.
Read about the effects of minimum wages on employment and minimum wages in the news:
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