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REPORT COPYRIGHT VIOLATION IN REPLY
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Message Subject
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Minimum wage in Australia increased to $15.96 p/h
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Poster Handle
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Anonymous Coward |
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Post Content
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You do realize that increases in the minimum wage cause the unemployment rate to increase right?
Quoting: Wonkish That is not true. That is an excuse used by corporate controlled governments to maximize profits. Minimum wage rates are nothing more than a price floor. Assuming that the quantity of labor supplied remains constant, the quantity of labor demanded at the equilibrium price level, which has been artificially increased due to the implementation of the price floor, decreases both in the short and long run.
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