Although a higher minimum wage isn't expected to impact employee turnover or layoffs, it is projected to hurt job creation, according to a new study by Texas A&M University.
"We very carefully controlled for a number of factors that could conflate increases in the minimum wage and changes in employment and found that job creation was reduced substantially, but job destruction did not increase," says Jonathan Meer, assistant professor of economics at Texas A&M. "Net job growth falls in response to an increase in the minimum wage, but employee turnover is unaffected."
The survey finds that employees wouldn't lose their jobs if minimum wage is raised, but fewer employees would be hired in the future.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
