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Freakonomics Radio cover image

460. The True Story of the Minimum-Wage Fight

Freakonomics Radio

NOTE

Value of Experience in the Workforce

Employers prefer experienced and reliable workers over young and inexperienced ones. Higher minimum wage may lead to employers seeking more experienced workers. Older workers with a track record and references are considered more reliable and essential in the job market. The necessity of a job motivates older workers to be more committed compared to younger workers who may view work casually. Minimum wage laws can inadvertently hinder young individuals from entering the workforce, leading to potential unemployment issues.

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