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September 1, 2016

Title: The REAL Effects of a Higher Minimum Wage
Topic: Minimum Wage

Discussed by James Sherk
with The Heritage Foundation (www.Heritage.org)

Part 1 of 2

Employees must earn what it costs to employee them. Forcing businesses to pay starting wages at $15 an hour makes less-skilled workers and less-experienced workers unemployable.

James Sherk is a Research Fellow with Labor and Economics at The Heritage Foundation. He is an expert on jobs, labor policy, unemployment, and economic mobility.

Questions/Issues Discussed:

First, James Sherk summarizes the REAL effects on the economy if the Federal Minimum Wage is increased to $15. “Basically, you get fewer jobs and higher prices,” James says. Business will hire less workers who will still do the same amount of work as more workers, therefore, causing more stress on workers. The business owner will, in turn, raise prices because they will be paying more in wages, even with fewer workers.

FACT: If the Federal Minimum Wage requirement is raised to $15, it would cost Texas alone 900,000 jobs. Nearly a million jobs – gone. Nearly one million people – unemployed, likely for a long, long time.

Today, in America, are there fewer workers in the workforce than at any other time since 1977?

Is the true unemployment rate much, much higher than the government is reporting? NOTE: You may be surprised by James Sherk’s answer!

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Title: Part 2 of 2 - The REAL Effects of a Higher Minimum Wage
Topic: Minimum Wage

Discussed by James Sherk
with The Heritage Foundation (www.Heritage.org)

Questions/Issues Discussed:

If there are too many unemployed workers chasing too few open positions, what happens to wages?

If open positions have few, or no, applicants wanting to fill those positions, would employers begin to increase the wages being offered in an attempt to hire new employees?

When the cost of doing business increases due to a hike in the Federal Minimum Wage, what choices do the business owners have?

What happens to America’s workforce if the minimum wage is increased to $15 per hour?

How many Texas workers would be effected by a minimum wage increase to $15 per hour?

Why is it bad public policy to artificially mandate a minimum start wage of $15 per hour?

More from this Guest More on this Topic More from this Organization

March 30, 2009

Title: IS IT REALLY “FREE CHOICE”? Part 1 of 2
Topic: Employee Free Choice Act

Discussed by James Sherk
with The Heritage Foundation (www.Heritage.org)

The Employee Free Choice Act (HR 1409 and SB 560) does more than take away secret union ballot elections. It empowers the Federal Government to impose contracts on newly organized companies. The government would set wages, benefits, work assignments, promotion procedures, and all other major changes to business operations for SMALL businesses. Log on to www.heritage.org for more information.