How Much Minimum Wage Should You Pay?

The labour market is a market like any other. More people looking for fewer jobs means that there is more supply, less demand and ultimately lower wages. If unemployment drops below this naru level, then we will have a situation where almost everybody that wants a job has a job. There is certainly a good argument for a higher minimum wage. But what happens if restaurants need to start paying all their employees 15, 20, forty, a hundred dollars an hour just to attract enough staff to make sure the operation runs? Eventually, salary expenses of these businesses would just make it infeasible for them to keep on running - which means they will close down.