The attempt to get anything we desire designated as a 'right' which someone must provide for us is not a new one. Back in 1972, the economist Milton Friedman tackled exactly this issue in his column for Newsweek....
Continue reading
Target is a big company, during the pandemic it did not face as much disruption to business as did most small businesses. Henceforth, Target can afford to pay its employees $15 an hr. But Target should not be the baseline for minimum wage. Small businesses cannot afford the minimum wage. It hurts their bottom line during normal times. Now it will be even harder for small businesses to recover now while paying their workers $15 an hour....
Continue reading
Compared to the extra benefits that immigrants contribute to the economy, restricting their entrance could prove more negative to the United States economy. Economic research suggests restricting immigrants will hurt employment and reduce demand. This might in turn hinder recovery of the economy. ...
Continue reading
Research shows that students who graduate during a recession suffer a range of negative effects on income and health and that these effects linger for a very long time. ...
Continue reading
The Bureau of Labor Statistics earlier today released data on the change in employment in the leisure and hospitality industry. As to be expected the changes in the industry are high when compared to changes in the entire labor force. This is potentially due to the fact that lockdowns largely targeted businesses in the leisure and hospitality industry....
Continue reading
Minnesota is one of 21 states whose minimum wage rate is higher than the federal rate. Both Minneapolis and St. Paul are on track to hike it to $15 an hour. Given the apparent negative impact of high rates on the employment of black men, might these not be some part of our state's racial disparities?...
Continue reading
Research shows that 'Ban the box' laws increase callback rates for people with criminal records at the cost of reducing the likelihood that employers call back or hire young black and Latino men. So, do we persist with these laws because their intentions are noble, or do we junk them because their outcomes are harmful?...
Continue reading
From April to May, forty-four states saw their unemployment rates fall. Minnesota saw an increase, and the largest increase in the United States. ...
Continue reading
The U.S. economy has taken a pounding from Covid-19. But so have other economies. To judge how well or badly we have fared, it is reasonable to ask 'relative to what?' And, relative to other economies, we are doing kind of ok. Not that that is much consolation. That will only come from a rapid economic recovery. ...
Continue reading
I have written before about how closing the skills gap is a more effective way to increase people`s income. This is because focusing on helping people attain particular skills makes them more employable in higher-paying jobs. This is largely showcased by research showing college graduates usually earn compared to people with no college degrees. A recent study on the state of Georgia has found results further proving this fact. The study — “What you make depends on where you live: College Earnings Across States and Metropolitan Areas” — evaluates the “college earnings premium” by geographic area. Along with Washington, D.C., and New York, Georgia...
Continue reading