Column: Minimum wage laws do not improve labor markets

Among President Barack Obama’s recommendations in the State of the Union address to Congress was an increase in the federal minimum wage from its current $7.25 to $9 an hour.

This is not the first time he has done so.

In 2008, then-Sen. Obama called for the minimum wage to rise to $9.50. Now, I am uncertain just what has transpired over the past five years to lead him to lower his target, so I’ll just mark it up to bad memory.

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