I am inwards the procedure of revising my intermediate macro book. As I was updating the department on the minimum wage, I was struck past times how much the information has changed over 3 years. The minimum wage has a much larger purpose forthwith than it did 3 years ago, inwards large business office because of the legislated growth inwards the minimum wage from $5.15 to $7.25 an hour. For example, comparison the 2010 data amongst the 2007 data, i finds the following:
- The pct of all hourly-paid workers paid at or below the minimum wage rose from 2.3 to 6.0 percent.
- The pct of part-time workers paid at or below the minimum wage rose from v to xiv percent.
- The pct of teenage workers paid at or below the minimum wage rose from vii to 25 percent.
