Increasing the minimum wage ignores economic realities

With stagnant growth and productivity, maintaining the current minimum wage structure is a triumph of political aspiration over economic reality. At a time when the government are rightly reforming welfare to ensure that those on low incomes have an incentive to work as opposed to claiming welfare, they are missing one key problem of the labour market. You can only get people off Jobseekers’ Allowance if companies are willing to foot the bill.

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Source: http://www.iea.org.uk/blog/increasing-the-minimum-wage-ignores-economic-realities-0

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