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Interesting numbers comparing minimum wage and unemployment

Quantum Windbag

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8 states with the highest minimum wage

8. California (unemployment 12.1 percent; minimum wage $8.00)
7. Massachusetts (unemployment 7.4 percent; minimum wage $8.00)
6. Vermont (unemployment 5.9 percent; minimum wage $8.15)
5. Connecticut (unemployment 9.0 percent; minimum wage $8.25)
4. Illinois (unemployment 9.9 percent; minimum wage $8.25)
3. Nevada (unemployment 13.4 percent; minimum wage $8.25)
2. Oregon (unemployment 9.6 percent; minimum wage $8.50)
1. Washington (unemployment 9.3 percent; minimum wage $8.67)

The Eight States With The Highest Minimum Wages - 24/7 Wall St.
 

8537

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In other words, there's no relation. California, Nevada, Washington, Illinois and Oregon have high minimum wages and above average UE.

Mass, VT and Conn have high minimum wages and UE below the average.

On a related note, California, Mass and Connecticut are among the wealthiest.
 
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R

rdean

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The Republican Plan for America:

Prosperity through lower wages.
 

uscitizen

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8 states with the highest minimum wage

8. California (unemployment 12.1 percent; minimum wage $8.00)
7. Massachusetts (unemployment 7.4 percent; minimum wage $8.00)
6. Vermont (unemployment 5.9 percent; minimum wage $8.15)
5. Connecticut (unemployment 9.0 percent; minimum wage $8.25)
4. Illinois (unemployment 9.9 percent; minimum wage $8.25)
3. Nevada (unemployment 13.4 percent; minimum wage $8.25)
2. Oregon (unemployment 9.6 percent; minimum wage $8.50)
1. Washington (unemployment 9.3 percent; minimum wage $8.67)

The Eight States With The Highest Minimum Wages - 24/7 Wall St.

Ok lets see another chart of states with the highest unemployment and their minimum wage.
KY minimum wage 7.25 unemp rate 9.5%
FL minimum wage 7.31 unemp rate 10.9%.
AL minimum wage 7.25 unemp rate 9.9%
 
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ladyliberal

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The WSJ article seems to be comparing minimum wage to unionization and median income (the latter being a decent stand-in for cost of living). They seem to reach the common-sense conclusion that minimum wage is positively correlated with both.

The first post seems to suggest, but does not say, that minimum wage increases unemployment. This is again plausible, but doesn't seem to be demonstrated by the evidence here. There's no adjustment for cost of living, and there's no attempt to disentangle causation from correlation (poor economic times could lead, as the WSJ suggests, to increases in both minimum wage and unemployment, creating a correlation).

The question is a difficult one, and while the simple textbook model certainly suggests that minimum wages increase unemployment among the marginally employable, significant disagreements exist among economists: Minimum wage - Wikipedia, the free encyclopedia
 

uscitizen

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The high unemployment in NV is clearly the result of a state that relies too heavially on good economic times tourists spending/losing lots of money there. Which drops dramatically in poor economic times.
it had nothing at all to do with the minimum wage.
 

NYcarbineer

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8 states with the highest minimum wage

8. California (unemployment 12.1 percent; minimum wage $8.00)
7. Massachusetts (unemployment 7.4 percent; minimum wage $8.00)
6. Vermont (unemployment 5.9 percent; minimum wage $8.15)
5. Connecticut (unemployment 9.0 percent; minimum wage $8.25)
4. Illinois (unemployment 9.9 percent; minimum wage $8.25)
3. Nevada (unemployment 13.4 percent; minimum wage $8.25)
2. Oregon (unemployment 9.6 percent; minimum wage $8.50)
1. Washington (unemployment 9.3 percent; minimum wage $8.67)

The Eight States With The Highest Minimum Wages - 24/7 Wall St.

What's interesting, exactly, other than it disproves any nonsense about the minimum wage adversely affecting UE?
 

waltky

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Miss Nancy caught fibbin' again...
:lol:
Pelosi: Without Obama's Stimulus, Unemployment Would Now Be 15%
November 3, 2011 – Since President Barack Obama signed his $825 billion economic stimulus plan into law in February 2009, the national unemployment rate has risen from 8.2 percent to 9.0 percent. But House Minority Leader Nancy Pelosi (D.-Calif.) said at her press briefing Thursday that if the stimulus had not been enacted the unemployment rate would now be 15 percent.
At a press briefing only a month ago, Pelosi said that if the stimulus had not been enacted unemployment would have reached 14.5 percent by the time of the November 2010 elections. "I think it’s really important to know that President Obama was a job creator from day one," Pelosi said at her Thursday briefing. "Now, was the ditch that we were in so deep that when you’re talking to people and they still don’t have a job, that that’s any consolation to them? No.

“But I’ll tell you this,” said Pelosi, “if President Obama and the House congressional Democrats had not acted, we would be at 15 percent unemployment. Again, no consolation to those without a job, but an important point to make." At her Oct. 6 briefing, Pelosi said: “Without the Recovery Act and accompanying federal interventions, whether from the Fed or ‘Cash for Clunkers’ or other initiatives, this unemployment rate last year at the time of the election would’ve been 14.5 percent, not 9.5 percent.”

A report published by the Congressional Budget Office in August estimated that in the fourth quarter of 2011, the stimulus signed by President Obama in 2009 would have the impact of reducing the national unemployment rate between 0.3 points to 1.1 points from what it otherwise would have been. The report also said that although CBO initially estimated that the stimulus would cost $787 billion, CBO had subsequently increased its estimated cost to $825 billion.

According to the CBO report, 600,000 to 2 million people have jobs as of now that were "created or retained" because of the $825 billion stimulus. If the maximum number of 2 million is accepted, that works out to a cost of $412,500 per job. If the minimum number of 600,000 is accepted, that works out to a cost of $1,375,000 per job.

Source

See also:

BLS Chief Contradicts Pelosi: Knows of No Study Backing Her 15% Unemployment Claim
November 4, 2011 - Keith Hall, the commissioner of the Bureau of Labor Statistics, the federal agency responsible for tracking unemployment in the United States, told the Join Economic Committee of Congress today that he knew of no study that would back the claim that House Miniority Leader Nancy Pelosi (D.-Calif.) made on Thursday that the unemployment rate would now be 15 percent were it not for the economic stimulus President Barack Obama signed in 2009.
Rep. Mick Mulvaney (R-S.C.) asked Hall: “Have you seen any reputable studies that would lead you to believe or that would show that the unemployment rate today would be 15 percent but for the stimulus program?” “No," said Hall, "but I haven’t, I haven’t looked. I’m not sure I would call--Was the CBO [Congressional Budget Office] estimating that?”

“No, that’s actually Mrs. Pelosi’s office this morning,” Mulvaney informed him. “Oh, okay. I haven’t looked at that study,” Hall said. Mulvaney followed up: “Do you think there is a study?” “I really have no idea,” Hall said.

“You’ve never heard of any study that would say that unemployment would be 15 percent?” Mulvaney asked. “No," said Hall, "but we’re pretty focused on the real data.” “I’m focused on the real data as well, I just sort of was wondered if this had anything to do with real data and it sounds like it doesn’t,” Mulvaney said before concluding his questioning.

As earlier reported by CNSNews.com, the Congressional Budget Office in August estimated that in the fourth quarter of 2011, the stimulus would have the impact of reducing the national unemployment rate between 0.3 points to 1.1 points from what it otherwise would have been. Since President Barack Obama signed his $825 billion economic stimulus plan in February 2009, the national unemployment rate has risen from 8.2 percent to 9.0 percent.

Source
 

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