“Younger, less-well-educated workers have been especially harmed by recent state-level minimum wage hikes, according to a study issued today by the National Bureau of Economic Research. The paper was written by economists Jeffrey Clemens of the University of California, San Diego, and Michael R. Strain of the American Enterprise Institute.”
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“They found that “over the short and medium run, relatively large increases in minimum wages have reduced employment rates among individuals with low levels of experience and education by just over 2.5 percentage points.” By contrast, smaller increases, or ones resulting from indexing inflation to wages, have effects that are “variable and centered on zero.”
The data also offers “evidence that the medium-run effects of large minimum wage changes are larger and more negative than their short-run effects,” so we will often need time to unfold before we see those bad employment effects blossom.”
https://reason.com/2021/09/20/new-study-large-minimum-wage-hikes-especially-disadvantage-younger-less-educated-workers/