• Roger Babson

Notes on reading the Monday Tribune:

The editorial page isn’t happy with the minimum wage, which a Democratic Congress (note to Tribune: and a Republican president) in 2007 raised from $5.15 to $7.25 an hour. “For the vast majority of adults…the change was irrelevant. The greater impact was among adolescents. About a quarter of those working make no more than the minimum. So it was not entirely surprising to see the unemployment rate of those 16 to 19 years old went from 14.8 in early 2007 to 27.1 percent in October 2009 — shortly after the final stage of the raise took effect. Today, it’s 24.2 percent.” Conceding that the economy must be partially, and perhaps even primarily, to blame, the Tribune insisted that the higher minimum wage must have played a role.