BET (Black Entertainment Television) figured out the economic truth behind minimum wage hikes; employees whose labor is not worth the set wage get canned.
BET is choosing a racial agenda over traditional Leftist economic delusions. Via BET:
And economists William Even from Miami University and David Macpherson from Trinity University report that when a state, or the federal government, increases the minimum wage, Black teens are more likely to be laid off. The duo analyzed 600,000 data points, which the Employment Policies Institute says included “a robust sample of minority young adults unprecedented in previous studies on the minimum wage.”
The report focused on 16-to 24-year-old males without a high school diploma and found that for each 10 percent increase in the federal or state minimum wage employment for young Black males decreased 6.5 percent. By contrast, after the same wage boost, employment for white and Hispanic males fell respectively just 2.5 percent and 1.2 percent.
The real hit for Black teens occurred, however, in the 21 states that had the federal minimum wage increase in 2007, 2008 and 2009.
The findings reveal that while 13,200 Black young adults lost their jobs as a direct result of the recession nearly 40 percent more, a total of 18,500, were fired because of the rise in the federal minimum wage,
Finally, a faction on the Left understands economics, but only because of ulterior motives. The fact is that minimum wage hikes do create unemployment in low-skilled, low wage positions, but this affects people of all races, not just African Americans.
BET then asks:
“Why do black males suffer more harm from wage mandates than their white or Hispanic counterparts?”
A key reason is that many young Blacks hold tenuous, low-skilled positions in the nation’s eating and drinking businesses, such as fast food restaurants.
They are absolutely right in saying that demographically, blacks tend to occupy the positions effected most by minimum wage increases, though rather than realizing that progressive economics (including welfare) are not in the best interest of African Americans, they instead insinuate that the cause is underlying racism in American society targeting blacks exclusively.
If BET were to admit to the detriment of the welfare state and progressive economics as a whole, to include minimum wage laws, then they would be turning their backs on all the progressive politicians who falsely claim to represent them.
Hopefully this realization is the first of many, though it is doubtful based on the race-baiting pretense.