MarketNeutral
23rd April 2010, 10:04 AM
A big part of the unemployment problem, and not just for youth, is that during the economic downturn many employers wouldn’t hire you unless you had 2 years or more experience, and in some cases, they wouldn’t even look at you without 5 plus years of experience.
It’s hard for anyone to get experience unless companies are willing to take them on in the first place, even if it’s at a slightly reduced wage due to their lack of experience. Take truck driving for instance with its 18-22$/hour average wage; they should be paid 16-20$ an hour if they’re under 2 years experience. Indeed, examples like these could be an argument against a state mandated minimum wage (how about a maximum wage for CEOs?). Indeed, many people believe that a minimum wage is a good thing, but what it really does is closes off entry-level positions and apprenticeship programs for many young people, especially black youngsters who see unemployment doubled than their white, asian, and indian counterparts.
http://www.thecomingdepression.net/main-street/scams/oecd-sees-explosion-in-youth-unemployment-ahead/
It’s hard for anyone to get experience unless companies are willing to take them on in the first place, even if it’s at a slightly reduced wage due to their lack of experience. Take truck driving for instance with its 18-22$/hour average wage; they should be paid 16-20$ an hour if they’re under 2 years experience. Indeed, examples like these could be an argument against a state mandated minimum wage (how about a maximum wage for CEOs?). Indeed, many people believe that a minimum wage is a good thing, but what it really does is closes off entry-level positions and apprenticeship programs for many young people, especially black youngsters who see unemployment doubled than their white, asian, and indian counterparts.
http://www.thecomingdepression.net/main-street/scams/oecd-sees-explosion-in-youth-unemployment-ahead/