The Effects Of Minimum Wages On Youth Employment And Income

Download or read book The Effects of Minimum Wages on Youth Employment and Income written by Charlene Marie Kalenkoski and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers often propose a minimum wage as a means of raising incomes and lifting workers out of poverty. However, improvements in some young workers' incomes as a result of a minimum wage come at a cost to others. Minimum wages reduce employment opportunities for youths and create unemployment. Workers miss out on on-the-job training opportunities that would have been paid for by reduced wages upfront but would have resulted in higher wages later. Youths who cannot find jobs must be supported by their families or by the social welfare system. Delayed entry into the labor market reduces the lifetime income stream of young unskilled workers.