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)



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Bringing demand and supply 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

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