by Jared Dillian, Reason, April 28, 2026 - The last federal minimum wage increase went into effect on July 24, 2009, raising it from $6.55 an hour to $7.25. We have experienced nearly 50 percent inflation since then, yet the minimum wage has stayed the same. Even in 2009, only 4.9 percent of workers were actually paid $7.25 an hour, and that number has dropped to 1.1 percent today. ...
... With a floor on prices above equilibrium, supply will exceed demand, producing a surplus of labor willing to work at that price—otherwise known as unemployment. ...
The jobs that pay the minimum wage are not intended to be careers. They're intended to be stepping stones for young, unskilled workers to graduate to higher-paying jobs later in life. I personally have one employee who told me that his first job paid the minimum wage, stacking inner tubes at a water slide park. Five years later, he is making multiples of that. But by taking that job, he acquired skills—not in stacking inner tubes, per se, but in putting on a uniform, showing up on time, working in an organization, and having a cheerful, positive attitude. ... By raising the minimum wage, we are depriving young people of these opportunities. No teenager in Connecticut will get an entry-level job for $16.94 an hour, bagging groceries or stacking inner tubes. Their first job will most likely come at 22, when they graduate from college and the stakes are higher, never having acquired those basic habits of showing up on time and conducting themselves professionally....
... If we could legislate prosperity, why not make the minimum wage $100 an hour? $10,000 an hour? The unemployment rate would skyrocket. The federal minimum wage has not moved in nearly two decades, and for now, that is something close to a blessing. (read it all)
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