Empirical evidence on the impact of minimum wage on employment

Empirical evidence on the impact of minimum wage on employment
Empirical studies show mixed results on the relationship between minimum wage and employment. Some research suggests a negative impact, especially in low-skilled industries. At the same time, other studies find minimal to no effect on overall employment levels. Factors such as industry structure, labor market conditions, and policy design play crucial roles in shaping these outcomes. Researchers continue to explore these complexities and nuances to provide policymakers with comprehensive insights for effective decision-making. Despite ongoing debates, the empirical evidence underscores the need for a balanced approach that considers both the welfare of workers and the sustainability of businesses in the minimum wage debate.
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