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by rhino369
3974 days ago
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But you also have to compare PPP, cost of living, and unemployment rates. Australia's PPP adjusted minimum wage is 10.50 USD. It's very possible that Australia's min doesn't hurt employment and it would in the USA. It's also plausible that Australia's recent increase in employment (while US is hitting post 2008 lows) is partially caused by too high of a minimum wage. |
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Much as the National Restaurant Association, Cato and American Enterprise Institute would love for us to believe this, it just isn't true.
It would hurt profits, though, and a lot of those restaurants paying minimum wage would go out of business (and be replaced by other restaurants).