Minimum wage laws make hiring workers more expensive and price some workers out of employment. People misunderstand the labor market, worry about those who aren't making a living wage and therefore support high minimum wages. But overwhelmingly, those working for minimum wage are teenagers and those just entering the workforce. These first jobs may be low-paying, but they are critical for skill building. Raising the minimum wage makes it less likely that companies are going to hire those who really need that critical first job -- which is one of the reasons our teen unemployment rate is so high today. It's far worse to have no job than to have one that pays relatively little. The inability to get a first job and have that skill building experience will be a drag on the economy for years to come.
Independent Women's Forum director and Goldwater Institute senior fellow, Carrie Lukas