Here’s another great new learning opportunity for readers. If you owned a small business that employed 10 teenagers, how important is the payroll line in your budget? A majority of teens make minimum wage while they scoop ice cream, mow lawns and work at fast food joints.
Many of these employees are paid more than minimum wage depending on the going rate in the area, but this morning I was reminded of the minimum wage increase that Congress passed and the president signed a few years ago. The minimum (federal) wage went from $5.15 to $6.55 per hour in two years, and you may be curious if that change could be related to the unemployment rate of teenagers. Of course it is. Read more