California’s Unemployment Rate is Too Low!

California’s politicians apparently think California’s unemployment rate is too LOW. They recently passed the highest minimum wage law in the land.

No one has exposed the reality of the minimum wage better than Murray Rothbard

In truth, there is only one way to regard a minimum wage law: it is compulsory unemployment, period. The law says: it is illegal, and therefore criminal, for anyone to hire anyone else below the level of X dollars an hour. This means, plainly and simply, that a large number of free and voluntary wage contracts are now outlawed and hence that there will be a large amount of unemployment. Remember that the minimum wage law provides no jobs; it only outlaws them; and outlawed jobs are the inevitable result.