More Hidden Costs of Minimum Wage Hikes: A Randomized Control Trial
Sophia Bagley and Ryan Bourne This year kicks off with minimum wage hikes across 21 states. Economists have long documented that while minimum wage increases often boost wages for those who remain employed, there are no free lunches. Extensive research shows minimum wage increases to high levels tend to hurt new and low-skilled workers as businesses respond by cutting hours or hiring opportunities. Moreover, newer research has found that businesses may use other margins of adjustment to cope […]