Bringing Supply and Demand Together

Since 1938, the federal government has, by legislation, made it illegal to pay most workers an amount below a legislated minimum wage (price for labor services).

• Since 1938, the federal government has, by legislation, made it illegal to pay most workers an amount below a legislated minimum wage (price for labor services).

• Price Floors: The Minimum Wage

Because it would produce willing workers who will be unable to find jobs, an increase in the minimum wage would create additional unemployment for low skill workers.

• Because it would produce willing workers who will be unable to find jobs, an increase in the minimum wage would create additional unemployment for low skill workers.
• The unemployment impact of the minimum wage falls mainly on the least experienced, least skilled persons, often teenagers, holding the lowest paying jobs.

• Results of the Minimum Wage

• Unemployment Effects of a Minimum Wage
• on Low-Skilled Workers