Asked by Jessica Robertson on Jul 18, 2024
Verified
Minimum wage laws have contributed to higher unemployment levels among teenagers and minorities.
Minimum Wage Laws
Legislation that sets the lowest hourly rate that employers can legally pay their employees.
Unemployment Levels
The proportion of the labor force that is jobless and actively seeking employment.
- Evaluate the impact of minimum wage legislation and efficiency wages on employment rates and employee attrition.
Verified Answer
ZA
Zachary AndersonJul 22, 2024
Final Answer :
True
Explanation :
Minimum wage laws can lead to higher unemployment levels among teenagers and minorities because employers may be less willing to hire for entry-level or low-skill positions at higher wages, disproportionately affecting these groups who often fill such roles.
Learning Objectives
- Evaluate the impact of minimum wage legislation and efficiency wages on employment rates and employee attrition.