Or so said an economist from Northeastern University.
It’s breathtaking how we are being lied to about unemployment specifically, and the economy in general. Just Friday we learned unemployment is down to 7.7% with the miraculous addition of over 200,000 jobs. The media was instantly celebrating great news. But is it actually great news?
Congress enacted the first federal minimum wage in 1938. A provision of the Fair Labor Standards Act, it covered about 6 million workers and set a wage floor of 25 cents per hour.