00:01
Summarize the evidence regarding the impact of minimum wage on employment.
00:12
So let's talk about the impacts of minimum wage on the employment rate.
00:39
There are some potential benefits of higher minimum wages.
01:12
Higher minimum wages would help workers who are in poor or low -income families.
01:40
However, higher minimum wage may discourage firms from employing low -wage, low -income families.
01:45
Skill workers, although minimum wages were intended to help these individuals.
02:23
Research has found that, especially in the united states, evidence suggests minimum wages reduced jobs available to these low -skill workers.
02:37
So there is conflicting results from research that has been conducted on the job market.
02:56
So higher minimum wages may discourage the employment of low income and low -scale workers because of the fact that employers do not want to pay this higher wage.
03:22
So the cost of labor has gone up.
03:33
And if we look at the demand curve, the cost goes up, the demand for labor goes down...