No, your right, the minimum wage is wrong.
It basically leads to an increas in the supply of labour, i.e. an increase in unemployment, particularily for older unskilled workers.
But when you have a flood of illegals putting downward pressure on wages, you alter tha labor market in favor of businesses looking to hire low wage workers.
Take away the illegals and wages would tend to equilibrium.
Whew, some of the old university economics coming back to me.
"No, your right, the minimum wage is wrong.
It basically leads to an increas in the supply of labour, i.e. an increase in unemployment, particularily for older unskilled workers.
But when you have a flood of illegals putting downward pressure on wages, you alter tha labor market in favor of businesses looking to hire low wage workers.
Take away the illegals and wages would tend to equilibrium.
Whew, some of the old university economics coming back to me."
yep