On average, the wage gap between the New World and the old accounted for about 60 percent of the real wage variance across these 17 countries over the four decades prior to 1913. The remaining 40 percent of the real wage variance was explained equally by the variance within Europe and within the New World... displayed 300 characters
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The remaining 40 percent of the real wage variance was explained equally by the variance within Europe and within the New World. Thus, real wage variance among the European countries in our sample was a modest part of real wage variance in the Atlantic economy as a whole (although as already confessed, the absence of poor east European nations from the sample probably accounts for much of this result)... displayed next 300 characters
Minimum wage levels become the floor and wages can not fall below the floor price.
In the first two Minimum wage graphs a study that was done in New Jersey to show the effects of a minimum wage increase in employment...
Craig Garthwaite, research director at the Employment Policies Institute states,"it is perhaps no coincidence that the 3 states with the highest minimum wages in the nation- Oregon, Washington, and Alaska-are among the 5 states with the highest unemployment rates in the nation...
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