Why is the unemployment rate for young people so high?

9 Dec

WINTERY KNIGHT

A few of the policies that are causing the problem are explained in this article from the American Enterprise Institute. I have highlighted the policies that discourage employers in the snippet I excerpted below.

Excerpt:

If Washington is serious about helping this vulnerable population, it should focus on increasing workers’ take home pay and lowering the business employment costs. Conventional wisdom preaches increasing minimum wages. But a far more effective policy would be to simply exempt younger workers and their employers from paying taxes related to their employment.

People in the workforce typically get their start when they are young – beginning with some entry level job where they learn basic job skills, develop effective work habits, and earn a modest wage. This important first step gives them a chance at earning wages and achieving a level of success that facilitates advance up the economic ladder. Work habits and…

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