Across the United States, many states have increased their minimum wages in 2024. However, the article argues that these mandated pay increases may have unintended consequences for the people they aim to help. For example, California has experienced the closure of numerous fast-food businesses since implementing their $16 per hour minimum wage. Similar effects have been observed nationwide, particularly affecting fast-food workers. The article suggests that while minimum-wage jobs can serve as a stepping stone, continually increasing wages may make it harder for workers to access these entry-level positions. The potential consequences include job cuts, reduced benefits, increased automation, and higher consumer prices. Studies have shown that employment losses often occur when the minimum wage rises, impacting teens, young adults, and less-educated workers the most. The article concludes by proposing alternative measures such as expanding education options, reducing burdens on employers, and eliminating barriers to employment.
