Thursday, August 14, 2008

Update: Minimum Wage Effect.

Just before the new Federal Minimum Wage went into effect, the weekly unemployment insurance (jobless) claims jumped by 34,000. The following week, the claims jumped by a phenomenal 46,000 in new filings from that previously high week. The week after that, the jump in claims moderated to 7,000 new claims. This mornings numbers actually "fell" by 10,000 new claims from the following week.

I still think that there is a strong connection between those two weeks of high unemployment insurance claims and the new Minimum Wage. You can read "The Minimum Wage Effect?" by clicking on this link: (Click for Popup Link).

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