Puerto Rico's Effective Minimum Wage Would Be $68/Hour Under Biden Plan - Foundation for Economic Education
Puerto Rico's Effective Minimum Wage Would Be $68/Hour Under Biden Plan While a federal $15 dollar minimum wage will help some people, it will hurt many others. Friday, January 29, 2021 Puerto Rico has had a long history of being harmed by Washington overreach. The island was once home to a thriving needlework industry until the federal minimum wage destroyed its competitive advantage. The same unintended consequence happened again in 1974 when increases in the minimum wage cut 32 percent of low wage jobs and triggered a mass migration off the island. Now history threatens to repeat itself on...
Source: fee.org