Increasing the minimum wage to $15 an hour has resulted in exactly what critics have predicted: A loss of low-skilled jobs and, according to a recent study, increased prices for the goods and services provided by companies that employ low-skilled workers.
Brad Polumbo reported at the Foundation for Economic Education on a recent study from Princeton economist Orley C. Ashenfelter and Czech economist Štěpán Jurajda, which found that minimum wage hikes led to much higher menu prices at McDonalds.
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