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Author: DufusGoneSplat Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 757652  
Subject: Re: Bad News for 0bama Date: 2/14/2013 12:11 PM
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It's been shown over and over again,that every time the minimum wage is raised, teen unemployment goes up.

I thought this was an interesting statement - a statement worth checking. BLS only has teen unemployment (16-19) data starting at 1948.

Date of Min Wage # Unemployed 6 Months 1 year

JAN. 25, 1950 647,000 505,000 469,000
MAR. 1, 1956 481,000 419,000 448,000
SEPT. 3, 1961 883,000 752,000 696,000
SEPT. 3, 1963 915,000 875,000 899,000
SEPT. 3, 1964 874,000 878,000 828,000
SEPT. 3, 1965 902,000 829,000 837,000
FEB. 1, 1967 846,000 859,000 752,000
FEB. 1, 1968 844,000 932,000 798,000
FEB. 1, 1969 797,000 904,000 967,000
FEB. 1, 1970 959,000 1,060,000 1,249,000
FEB. 1, 1971 1,205,000 1,346,000 1,324,000
MAY 1, 1974 1,318,000 1,594,000 1,711,000
JAN. 1, 1975 1,745,000 1,840,000 1,760,000
JAN. 1, 1976 1,754,000 1,657,000 1,721,000
JAN. 1, 1977 1,707,000 1,788,000 1,461,000
JAN. 1, 1978 1,579,000 1,506,000 1,620,000
JAN. 1, 1979 1,570,000 1,515,000 1,571,000
JAN. 1, 1980 1,579,000 1,780,000 1,611,000
JAN. 1, 1981 1,779,000 1,740,000 1,814,000
APR. 1, 1990 1,171,000 1,251,000 1,361,000
APR. 1, 1991 1,312,000 1,370,000 1,421,000
OCT. 1, 1996 1,300,000 1,270,000 1,268,000
SEPT. 1, 1997 1,268,000 1,221,000 1,216,000
JUL. 24, 2007 1,061,000 1,245,000 1,331,000
JUL. 24, 2008 1,430,000 1,365,000 1,623,000
JUL. 24, 2009 1,567,000 1,559,000 1,490,000


So of the 26 times the minimum wage has been raised since 1948;
- 13 times unemployment was higher in 6 months AND 13 times unemployment was lower in 6 months
- 13 times unemployment was higher in 12 months AND 13 times unemployment was lower in 12 months

http://data.bls.gov/pdq/querytool.jsp?survey=ln

http://www.dol.gov/whd/minwage/chart.htm
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