Effects of Minimum Wage on Unemployment Rates Across the United States
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In recent years, there has been widespread discussion on the effects of minimum wage on unemployment. In this paper, we have compiled extensive data on the variation of minimum wage levels across states, as well as looking at other variables that have an effect on earnings such as educational levels, weekly unemployment benefits, and the CPI. Using simple and multiple regression analysis and other statistical tests on our variables, we have come to the conclusion that there is evidence that supports a positive relationship between minimum wage and unemployment, which ultimately supports our hypothesis that raising the minimum wage, increases unemployment.