The Impact of a Minimum Wage

The minimum wage is a hotly debated topic, with some people arguing that higher minimum wages will lead to unemployment. Research shows that the impact of a minimum wage really depends on how high it is and how many workers, it'll effect. The types of minimum wages that we tend to see in labor market are such that there are pretty small effects on overall employment but they can't affect who gets hired. We haven't really talked about worker bargaining at all, but i'm guessing that unions can have a big impact on wages.