That 50% unemployment for teenagers will now be 100%
For adults who mange to keep a job, it will mean 29/hr week pay and zero benefits.
Gosh, and to think just 30 some odd years ago price-fixing was deemed counter-competitive and greedy of businesses. And now today we have a crop of Marxist/socialist idiots demanding price-fixing upon labor/wages... how greedy and uncompetitive labor wants to be. Ever hear of antitrust laws? Minimum wage laws are a direct violation of the Sherman Anti-trust laws. Minimum wage fixes an uncompetitive wage upon labor where businesses cannot compete in a free-market supply/demand environment. Minimum wage laws are government mandated price-fixing upon labor, period... a price-fixing scheme meant to prevent lower wage competitors!
http://www.forbes.com/sites/georgeleef/2013/11/11/minimum-wage-alchemy/