LogFAQs > #891277346

chaos knight posted...

Minimum wage in my state is set to go to $12.50/hour (up from $11.50/hour this year) in a little over a month, yet unemployment is the lowest it has been in decades.

We'd need a detailed breakdown to see what's really going on, but I'd speculate that the big driver is "useless" degrees becoming less so, as the shift to a service economy continues.

As the minimum wage increases, it creates an incentive to gain marketable skills, while someone who can't or won't do so becomes societally irrelevant and probably incarcerated eventually. Meanwhile, unskilled laborers get screwed over hard.
It's a case of the rich getting richer, the middle class becoming well-off, the poor getting slightly less poor, and the destitute essentially falling off a cliff.