H-1B Visas, Wage Suppression and Senate Republicans

May 1, 2014

This week, Senate Republicans blocked a vote on raising the federal minimum wage. To economists, wages, goods and services must be priced in real terms—that is, adjusted for inflation—to understand their economic effects. In real terms, the federal minimum wage has been falling for five years. People who claim that “raising” the minimum wage would have bad effects, must also argue that lowering the wage has good effects. During the past five years while the real value of the minimum wage was declining, the labor market has been the worst it has been in more than seventy-five years, and poverty has been increasing.  

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