The Increased Role of the Minimum Wage

I am inward the procedure of revising my intermediate macro book.  As I was updating the department on the minimum wage, I was struck past times how much the information has changed over 3 years.  The minimum wage has a much larger role directly than it did 3 years ago, inward large purpose because of the legislated increase inward the minimum wage from $5.15 to $7.25 an hour.  For example, comparison the 2010 data amongst the 2007 data, i finds the following:

• The per centum of all hourly-paid workers paid at or below the minimum wage rose from 2.3 to 6.0 percent.
• The per centum of part-time workers paid at or below the minimum wage rose from v to xiv percent.
• The per centum of teenage workers paid at or below the minimum wage rose from seven to 25 percent.

Question for shape discussion:  In calorie-free of what is occurring amongst the overall economic scheme during this period, how would y'all evaluate the policy alter regarding the minimum wage?
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