Critics: Trend to Raise Minimum Wage Will Cost Potentially Millions of Jobs
The Washington Free Beacon cited Fellow Ryan Young on minimum wage:
Ryan Young, a fellow at the Competitive Enterprise Institute (CEI), a free market think tank in Washington, D.C., said the minimum wage “is not a free benefit.” And it actually increases inequality because it helps some workers at others’ expense, he says.
Implementing a minimum wage forces “employers to reduce non-wage pay such as insurance, breaks and personal time off, free meals or parking, and more,” Young said in a statement. “A hike in the federal minimum wage would also cause an estimated two million jobs to be lost and hit small businesses the hardest.”