“Wages at the bottom of the labor market have stagnated since 1970, with inflation gobbling up gains made over the years. The federal minimum wage buys a lot less today; it represented just 38 percent of the average hourly wage for private, nonsupervisory workers in 2010, down from 47 percent in 1970, according to the federal Bureau of Labor Statistics. . . .
Dim prospects push young people here toward another government solution. Brynna Frazier, 30, said the most popular choice among her friends was the military, which, at $1,600 a month with health insurance, was the best job around. Ms. Frazier, a waitress, has not had health insurance in any job she has ever worked, including Wal-Mart, Taco Bell and a telemarketing firm.” (New York Times)
Intervention begets intervention begets chaos.
FEE Timely Classic
“Government Intervention Creates Chaos, Not Jobs” by Donald J. Senese