Tuesday, August 5, 2008

July Job Losses Lighter than Expected

Despite an increase in unemployment in the 17-24 year old range caused by the minimum wage hike..From the Heritage:
This is not a jobs report that would be expected if the economy is in a recession. Job losses are relatively light and contained in a few sectors of the economy or to teenagers. While job losses are always painful, the labor market has not declined to the extent that would be expected if the economy really were in a recession. Congress can prevent future losses of entry level jobs by not implementing the next scheduled increase in the minimum wage. (more)

No comments: