In the mid-1980s, I handed out flyers on an Upper East Side streetcorner for a now defunct drugstore chain for $4.25 per hour ($9.07 in 2012). During the summers, I cut fiberglass and installed ducts in Miami for $5 an hour ($10.70 today). The minimum wage at the time was $3.35. A bump in the minimum was not likely to affect my employment prospects.
Uh ... um. Hmm. OK, take a look at the inflection points. Something happened in 1957. And something happened in 1973. And I vaguely recall something important in 1990. Not to mention 2007.
I wonder what I’m thinking about? (Click the link, please.)
And it seems a little counter to the hypothesis that in his second two examples teen employment accelerates above his post-hike trend well before his two-year post-hike window closes. And then there is 1996.
So ... four of his seven two-year post-hike windows are coterminous with recessions. (Perhaps minimum wage hikes cause recessions?) And two (1961 and 1996) don’t say what he thinks they say. That leaves 1967. I guess. Maybe.
But why then did Tyler Cowen link to him after he had already walked himself back? I honestly do not understand.