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→Political views: Empirical evidence added
[[Socialism|Socialists]], and many economic liberals, disagree with this view of labor as a commodity because they believe it dehumanizes laborers by permitting companies to pay employees less than necessary to live a decent life, support a family, etc; see [[living wage]]. Even without legislation, the minimum wage as of 2007 is far below the lowest wage paid by most large companies.<ref>Alan Renolds, [[Cato Institute]]. ''[http://www.cato.org/pub_display.php?pub_id=5409 Below the Minimum Wage]''</ref>
[[Socialism|Socialists]], and many economic liberals, disagree with this view of labor as a commodity because they believe it dehumanizes laborers by permitting companies to pay employees less than necessary to live a decent life, support a family, etc; see [[living wage]]. Even without legislation, the minimum wage as of 2007 is far below the lowest wage paid by most large companies.<ref>Alan Renolds, [[Cato Institute]]. ''[http://www.cato.org/pub_display.php?pub_id=5409 Below the Minimum Wage]''</ref>
See also:
==Empirical evidence from the 2009 recession==
* [[maximum wage]]
The 2009 recession gave a compelling picture of how an excessive minimum wage can exacerbate the employment climate. None of the five states with the lowest unemployment rates in May 2009, all below 5.5%, had a minimum wage higher than the federal minimum wage of $6.55. Five of of the six states with the highest unemployment rates, all above 11.2%, had minimum wages above the federal minimum wage. [[Oregon]], with a minimum wage of $8.40, had an unemployment rate of 12.4%. Generally, states with a higher minimum wage than the federal minimum wage had unemployment rates that were higher than states that did not have a higher minimum wage.<ref>[http://www.bls.gov/lau/ Bureau of Labor Statistics]</ref><ref>[http://www.dol.gov/esa/minwage/america.htm Department of Labor]</ref>
{| width="60%" class="wikitable" style="text-align:center"
![[State]]
|Minimum Wage prior to 7/24/2009 increase
!Unemployment Rate as of 5/2009
|Minimum Wage Rank
!Unemployment Rate Rank
|-
![[Nebraska]]
|$6.55
!4.4%
|1
!1
|-
![[North Dakota]]
|$6.55
!4.4%
|1
!1
|-
![[South Dakota]]
|$6.55
!5.0%
|1
!3
|-
![[Wyoming]]
|$6.55
!5.0%
|1
!3
|-
![[Utah]]
|$6.55
!5.4%
|1
!5
|-
![[Iowa]]
|$7.25
!5.8%
|31
!6
|-
![[Oklahoma]]
|$6.55
!6.3%
|1
!7
|-
![[Montana]]
|$6.90
!6.3%
|23
!7
|-
![[New Hampshire]]
|$7.25
!6.5%
|31
!9
|-
![[New Mexico]]
|$7.50
!6.5%
|42
!9
|-
![[Louisiana]]
|$6.55
!6.6%
|1
!11
|-
![[Arkansas]]
|$6.55
!7.0%
|1
!12
|-
![[Kansas]]
|$6.55
!7.0%
|1
!12
|-
![[Texas]]
|$6.55
!7.1%
|1
!14
|-
![[Virginia]]
|$6.55
!7.1%
|1
!14
|-
![[Maryland]]
|$6.55
!7.2%
|1
!16
|-
![[Vermont]]
|$8.06
!7.3%
|49
!17
|-
![[Hawaii]]
|$7.25
!7.4%
|31
!18
|-
![[Colorado]]
|$7.28
!7.6%
|38
!19
|-
![[Idaho]]
|$6.55
!7.8%
|1
!20
|-
![[Connecticut]]
|$8.00
!8.0%
|45
!21
|-
![[Delaware]]
|$7.15
!8.1%
|25
!22
|-
![[Minnesota]]
|$6.55
!8.2%
|1
!23
|-
![[New York]]
|$7.15
!8.2%
|25
!23
|-
![[Pennsylvania]]
|$7.15
!8.2%
|25
!23
|-
![[Arizona]]
|$7.25
!8.2%
|31
!23
|-
![[Massachusetts]]
|$8.00
!8.2%
|45
!23
|-
![[Maine]]
|$7.25
!8.3%
|31
!28
|-
![[Alaska]]
|$7.15
!8.4%
|25
!29
|-
![[West Virginia]]
|$7.25
!8.6%
|31
!30
|-
![[New Jersey]]
|$7.15
!8.8%
|25
!31
|-
![[Wisconsin]]
|$6.55
!8.9%
|1
!32
|-
![[Missouri]]
|$7.05
!9.0%
|24
!33
|-
![[Washington]]
|$8.55
!9.4%
|51
!34
|-
![[Mississippi]]
|$6.55
!9.6%
|1
!35
|-
![[Georgia]]
|$6.55
!9.7%
|1
!36
|-
![[Alabama]]
|$6.55
!9.8%
|1
!37
|-
![[Illinois]]
|$8.00
!10.1%
|45
!38
|-
![[Florida]]
|$7.21
!10.2%
|30
!39
|-
![[Indiana]]
|$6.55
!10.6%
|1
!40
|-
![[Kentucky]]
|$7.25
!10.6%
|31
!40
|-
![[Tennessee]]
|$6.55
!10.7%
|1
!42
|-
![[District of Columbia]]
|$7.55
!10.7%
|43
!42
|-
![[Ohio]]
|$7.30
!10.8%
|39
!44
|-
![[North Carolina]]
|$6.55
!11.1%
|1
!45
|-
![[Nevada]]
|$7.55
!11.3%
|43
!46
|-
![[California]]
|$8.00
!11.5%
|45
!47
|-
![[South Carolina]]
|$6.55
!12.1%
|1
!48
|-
![[Rhode Island]]
|$7.40
!12.1%
|40
!48
|-
![[Oregon]]
|$8.40
!12.4%
|50
!50
|-
![[Michigan]]
|$7.40
!14.1%
|40
!51
|}
==See Also==
* [[Maximum wage]]
==Sources==
{{reflist}}
==References==
==References==
<references />
<references />
[[category:economics]][[category:political Terms]][[category:law]]
[[category:economics]][[category:political Terms]][[category:law]]