Here’s a little something for everyone who says we should raise the minimum wage.
Raising the minimum wage will cause more unemployment. And no this isn’t some crazy right wing crack pot theory. It’s basic economics.
See that graph up there? As the the minimum wage is increased (shown by Qb) the demand for labour will decrease.
Wait for it…
A SURPLUS!!! (The inferred triangle in the graph)
But what is a surplus when it comes to labor?
You See employers won’t be able to afford to pay their employees the larger wage so two things can happen here.
1) employers will cut hours
2) you will be fired
So if you want 15$ bucks to flip burgers have fun getting no hours and most likely losing your job.