An honorable member of the Coffee Shop Has Just Posted the Following:
If minimum wage is so good, there wouldnt be high unemployment rate causing people to be homeless now ya? Gilbert Goh praise the high minimum wage yet thats the reason for the high unemployment rates.
http://www.foxbusiness.com/on-air/st...imum-wage-myth
Quote:
Most people who earn minimum wage are young, unskilled workers. How are they doing in Australia?
In June, Australia's unemployment rate for workers age 15 to 19 was 16.5%.
Last December, 63% of all jobs lost were jobs for young, unskilled Australians.
It's simple: when the price of something goes up, people buy less. So when the price of labor goes up, employers hire less.
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16-05-2014, 10:30 AM
Does Gilbert Know high minimum wages causes higher unemployment?
