The minimum wage is supposed to help entry-level workers, right? So why do many young people lose their jobs when the minimum wage is raised?
Let’s look at that. It makes sense that the lowest skilled workers get paid the lowest wages, while those with more skills get paid more. But what happens when the government increases the minimum wage, requiring businesses to pay more for workers?
As this week’s video explains, business owners are often forced to reduce staff to offset the added expense. Guess which employees are most at risk of losing their jobs? Watch Prager University’s video to find out.
