Posts tagged unemployment rates
Mamdani’s Minimum-Wage Hike Will Hurt Young Workers Most
November 14, 2025 // The Congressional Budget Office estimates that a 10 percent rise in the minimum wage reduces teen employment by about 0.7 percent. Using the same metric, raising New York City’s wage floor 82 percent would reduce Gotham’s teen employment by roughly 5 percent to 6 percent, on average. Teenagers who manage to keep their jobs will probably see fewer hours, meaning less job experience, fewer opportunities for mentoring, and slower wage growth in the future. Young people may have shot themselves in the foot, in other words, by supporting Zohran Mamdani. The soon-to-be-mayor’s “$30 by ’30” will make New York costlier, especially for the young, the least able to afford it.