> There is no indication anywhere that supply and demand is wrong about the job market.
If supply and demand worked as theorized in the labor market then there would necessarily be a loss of employment when the minimum wage is raised, but that is not always the case [1].
Some studies find effects and some don't, which is a good indication that the labor market is more complicated than Econ 101 principles.
If supply and demand worked as theorized in the labor market then there would necessarily be a loss of employment when the minimum wage is raised, but that is not always the case [1].
Some studies find effects and some don't, which is a good indication that the labor market is more complicated than Econ 101 principles.
[1]https://en.wikipedia.org/wiki/Minimum_wage#Empirical_studies