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Prices have risen in some sectors but fears of job losses have been unfounded, a report says.
Via Graham Watson
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Rescooped by Bruce Fellowes from Microeconomics: IB Economics |
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Via Graham Watson
An interesting reflection on the impact of the minimum wage on employment levels in the UK. The latest research by the Low Pay Commission has suggested that rises in the National Living Wage have eroded profits, rather than hitting jobs.
This is because much of the cost of the increase has been passed onto consumers, with the remainder being borne by firms rather than seeing workers laid off. However, another study, by the IFS suggests that the level at which a higher NLW will encourage increased automation is not too far away.