Some of the most formative years of my life were mid-late high school when I worked at a minimum wage retail job. I learned and developed multiple skills at this job that I use to this day in my living-wage career, I got to know co-workers who were very different from my peer group at school, I grew in my maturity and confidence, I had my first serious relationship, I earned enough money to pay for car insurance/maintenance for my hand-me-down "A to B" car plus some spending money (which allowed me to be more independent, again helping me to mature, live life), etc etc.
Let's assume for the sake of the discussion that the minimum wage goes up considerably in the coming years - the 15 $/hr goal that many are shooting for, for example.
I've heard this argument from multiple opponents of the min wage increase that it will prevent many young people from getting jobs - this makes sense to me. So I guess here are my questions/thoughts:
1. Will it really reduce the number of jobs available to young people? This seems like a no-brainer, but I guess I'll leave the option open for debate...
2. Is this an acceptable cost that is outweighed by the benefits of having other people (adults, assumedly) able to earn a living wage (or closer to a living wage)?
3. Would it be possible to account for this situation by creating a law that allowed employers to hire young people for less than the minimum wage? Would a law like this have the desired effect or would it just undermine the minimum wage laws too much?
4. Other thoughts?