In 1998, that range was $337 to $821. Even as this gap widened, many employers fought increases in the federally imposed minimum wage. They contended that the wage floor actually hurt workers by increasing labor costs and thereby making it harder for small businesses to hire new people. While the minimum wage had increased almost annually in the 1970s, there were few increases during the 1980s and 1990s...
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While the minimum wage had increased almost annually in the 1970s, there were few increases during the 1980s and 1990s. As a result, the minimum wage did not keep pace with the cost of living; from 1970 to late 1999, the minimum wage rose 255 percent (from $1.45 per hour to $5.15 per hour), while consumer prices rose 334 percent...
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macroeconomics Of these full-time students, 44.3 percent were in the labor force, either working or looking for work, in October 2005. In contrast, 79.0 percent of part-time college students participated in the labor force...	2 / 370
unemployment Frictional unemployment arises because workers seeking jobs do not find them immediately. While looking for work they are counted as unemployed.3 This could happen if suppose a person loses a job, perhaps because the work is finished...	3 / 655
Unemployment Structural unemployment arises from an imbalance between the kinds of workers wanted by employers and the kinds of workers looking for jobs. The imbalances may be caused by inadequacy in skills, location, or personal characteristics...	3 / 623
Business Cycles Structural unemployment is due to changes in the structure of demand for labor, ex. When certain skills become obsolete or geographic distribution of jobs changes...	3 / 613