What happens when the minimum wage goes up? In theory, this should be simple. A hike in the minimum wage raises the cost of low-wage workers. That should make firms less likely to hire those people. Unemployment should rise. Basic Econ 101, right?
Democracy Dies in Darkness
Economists disagree on whether the minimum wage kills jobs. Why?
By Brad Plumer
February 14, 2013 at 9:00 a.m. EST