Thus, allowing for the possibility of larger job loss effects, based on other studies, and possible job losses among older low-skilled adults, a reasonable estimate based on the evidence is that current minimum wages have directly reduced the number of jobs nationally by about 100,000 to 200,000, relative to the period just before the Great Recession. This is a small drop in aggregate employment that should be weighed against increased earnings for still-employed workers because of higher minimum wages. Moreover, weighing employment losses against wage gains raises the broader question of how the minimum wage affects income inequality and poverty. This issue will be addressed in the next Economic Letter .
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This study was performed by computer scientists at CNRS, Inria Nancy-Grand Est, Inria Paris-Rocquencourt, Microsoft Research, Johns Hopkins University, University of Michigan, and the University of Pennsylvania: David Adrian , Karthikeyan Bhargavan , Zakir Durumeric , Pierrick Gaudry , Matthew Green , J. Alex Halderman , Nadia Heninger , Drew Springall , Emmanuel Thomé , Luke Valenta , Benjamin VanderSloot , Eric Wustrow , Santiago Zanella-Beguelin , and Paul Zimmermann . The team can be contacted at [email protected] .