Full Citation
Title: Minimum Wage, Consumer Price Index, and the Unemployment Rate of Workers Without a College Degree
Citation Type: Miscellaneous
Publication Year: 2022
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Abstract: Increasing the minimum wage to $15 has been a very controversial debate over the last few years. While it is easy to believe that raising the minimum wage would result in more money for everyone, it is important to determine the economic effects this large increase would have. My research aims to determine how raising the minimum wage effects unemployment- more specifically for teenagers, young adults, and those without a college degree, as well as the effect on consumer price index. Through my research, I found statistically significant evidence that proves that increasing minimum wages result in an increase in consumer price index, in general and for tradable and non-tradable goods. There was also statistically significant evidence that proves that increasing minimum wages result in a decrease in unemployment. I believe that the higher minimum wage attracts those who are not in the work force, helping to increase employment.
User Submitted?: No
Authors: Anderson, Tori
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Data Collections: IPUMS USA
Topics: Education, Labor Force and Occupational Structure, Poverty and Welfare
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