The US Department of Labor mandates and enforces about 18 different minimum wages in American Samoa by industry. Oh, and the jobless rate there is almost 30%.
And now a serious question for proponents of the US minimum wage:
If you support a single hourly minimum wage in the US, wouldn’t you show even more support for multiple, government-mandated minimum wages by industry? That is, if you trust the supposed wisdom of politicians to know what the “correct” single minimum wage is for the entire US economy (currently $7.25 per hour), shouldn’t you also trust those same politicians to know what the “correct” minimum wage is for America’s many different industries? If a single minimum wage is “good” for the economy, wouldn’t multiple minimum wages by industry be even much better?
HT: John Thorne