Image via Wikipedia The Federal minimum wage is increasing:

Previous Federal Minimum Wage:

$5.15

New Federal Minimum Wage:

$5.85 – July 24th, 2007
$6.55 – July 24th, 2008
$7.25 – July 24th, 2009

The unemployment rate just surged to 6.1% – still historically low – but in comparison to the 4-5% rates the nation has enjoyed in the last three or four years, it is on the rise. Notice that the minimum wage went from $5.15 to $5.85 in July 2007. Also notice that the unemployment rate began to rise in mid-2007.

Is it possible that the Federal Minimum Wage is hurting those it is supposed to help? Is it just an unfortunate coincidence? Correlation is not causation, but I find it interesting!

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