News
Politico | Harry Reid not budging on minimum wage
Senate Majority Leader Harry Reid is in no mood to deal on the minimum wage — or take questions about whether a deal is in the making.
Bloomberg | Jobless Claims in U.S. Rose 16,000 Last Week to 326,000
The number of Americans filing applications for unemployment benefits rose more than forecast last week after reaching a six-month low, a sign that progress in the labor market remains fitful.
Bloomberg | Obama Minimum Wage Plan Made as Pitch to Young Voters
President Barack Obama is pitching his economic proposals as a boon to younger voters, who Democrats are counting on to help avert electoral losses in November.
Econ Comments & Analysis
CRS | Federal Minimum Wage, Tax-Transfer Earnings Supplements, and Poverty
The minimum wage affects workers regardless of their family status. A full-time, year-round worker at the current minimum wage would gross $15,080 in the year. A worker's poverty status, however, depends on family circumstance, specifically family size.
Blogs
WSJ | Grand Central: Fate of the Long-Term Unemployed Matters in Fed Debate
Between December 2007, when the recession started, and April 2010, the number of people unemployed for six months or longer surged from 1.3 million to 6.8 million. This number has declined 2.9 million since, accounting for a substantial portion of the overall decline in unemployment since the recession ended.
Library of Economics | Is Welfare a Band-Aid for Nominal Wage Rigidity?
The minimum wage deprives the unfortunate workers shown in red of their ability to support themselves. Given this involuntary unemployment, the case for welfare is suddenly easier to make. What happens if the government in its mercy puts the unemployed on the dole?
