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Two economists can agree that raising the minimum wage creates unemployment yet one might argue that raising the minimum wage is a good policy and the other that it is a bad policy. Why can this difference exist? Be sure to use the terms positive and normative in your answer.
Manufacturing Jobs
Manufacturing Jobs are positions involved in the creation of products either directly from raw materials or by assembling components.
Frictional Unemployment
Short-term joblessness experienced by individuals transitioning between jobs or entering the workforce.
Unemployment Insurance
A government-provided benefit offering temporary financial assistance to workers who have lost their jobs through no fault of their own, to help cover living expenses.
Structural Unemployment
A type of joblessness resulting from a disparity between the abilities available in the workforce and the competencies required by businesses.
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