The Dayton Regional STEM School Local Economics Podcast Project

Ryan Looks at the Effects of Raising the Minimum Wage on Businesses and Consumer Prices

In this podcast [https://ia601503.us.archive.org/17/items/lapchynski_on_minimum_wage_and_employment_and_product_prices/Final.mp3], Ryan explains how a minimum wage of $8.10 will effect a slower growth of CPI than a minimum wage of $10.00 because businesses don’t have to pass that extra cost on to their customers, and it allows businesses to use that money that would otherwise be paid to employees to expand their company and employ more people. Resources: Meer, J., & West, J. (2016). Effects of the Minimum Wage on Employment Dynamics. Journal Of Human Resources, 51(2), 500-522. http://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1#reqid=9&step=3&isuri=1&903=76 [http://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1#reqid=9&step=3&isuri=1&903=76] http://www.bls.gov/oes/CURRENT/oes_OH.htm#00-0000 [http://www.bls.gov/oes/CURRENT/oes_OH.htm#00-0000] Articles: http://www.daytondailynews.com/news/business/economy/brown-wants-to-raise-minimum-wage-to-15-but-doubts/npKmL/ [http://www.daytondailynews.com/news/business/economy/brown-wants-to-raise-minimum-wage-to-15-but-doubts/npKmL/] Meer, J., & West, J. (2016). Effects of the Minimum Wage on Employment Dynamics. Journal Of Human Resources, 51(2), 500-522.

Kayla Cindric Discusses How Increasing the Minimum Wage to $15 will affect Employers

In this podcast [https://ia601501.us.archive.org/22/items/Cindric_Discusses_How_Increasing_the_Minimum_Wage_will_affect_Employers_201605/k.cindric-econ_podcast.mp3], Kayla Cindric discusses minimum wage and how increasing the wage to $15.00 would affect the Dayton area. She interviewed, Jeremy Lutz, and employer who hires people to clean buildings and repair them and who understands how the increase of minimum wage will affect the economy in Dayton. The topic of the effects of increasing minimum wage was researched and opinions were formulated about the issue. Increasing minimum wage has benefits and negative effects for different positions in this economy. Resources: http://www.bizjournals.com/dayton/news/news-wire/2014/03/06/do-most-small-business-owners-really.html [http://www.bizjournals.com/dayton/news/news-wire/2014/03/06/do-most-small-business-owners-really.html] http://www.bizjournals.com/dayton/news/2015/08/21/guest-column-wage-issues-a-concern-fordayton-area.html [http://www.bizjournals.com/dayton/news/2015/08/21/guest-column-wage-issues-a-concern-fordayton-area.html] http://www.bizjournals.com/bizjournals/washingtonbureau/2014/02/18/minimum-wage-increase-could-cost.html [http://www.bizjournals.com/bizjournals/washingtonbureau/2014/02/18/minimum-wage-increase-could-cost.html]   http://www.heritage.org/research/factsheets/2014/01/facts-about-the-minimum-wage [http://www.heritage.org/research/factsheets/2014/01/facts-about-the-minimum-wage] Articles: http://www.bizjournals.com/dayton/stories/1998/04/06/story6.html?s=print

Drewing, Horton, Abridge Study the Effects of Increasing Minimum Wage

In this podcast [https://archive.org/download/drewing_horton_akridge_effects_of_changing_minimum_wage/Econ-Podcast-FINAL.mp3], Shetasia Akridge, Lauren Drewing, and Christina Horton express their views and findings on the possibility or option of raising the federal minimum wage to $15 an hour. Their main focus is on how small businesses, including the employers and the employees, will be negatively affected. They interviewed Raymond Good, a local small business owner, about his personal perspective on the issues concerning the minimum wage and how his company could be affected by it. Overall, these group members learned that raising the minimum wage could have more negative results for employees of small businesses that are in a field with less profit and benefit from using automated equipment. This topic shows that the factors that they thought would be a simple adjustment are more complicated and daunting than they could ever imagine.  Resources:  http://data.bls.gov/timeseries/LNS14000000 [http://data.bls.gov/timeseries/LNS14000000] http://www.nsba.biz/wp-content/uploads/2012/05/Minimum-Wage.pdf [http://www.nsba.biz/wp-content/uploads/2012/05/Minimum-Wage.pdf] Articles:  http://manufacturingnews.com/news/10/0112/GM.html [http://manufacturingnews.com/news/10/0112/GM.html]  ohiolmi.com/ces/lmr.html [http://ohiolmi.com/ces/lmr.html] http://www.usnews.com/opinion/articles/2013/05/10/raising-the-minimum-wage-will-harm-economic-growth [http://www.usnews.com/opinion/articles/2013/05/10/raising-the-minimum-wage-will-harm-economic-growth]

Melonie and Jake Look at Raising the Minimum Wage Above $10 Per Hour

In this podcast [https://ia601504.us.archive.org/15/items/Httparchive.orgdetailsJake_and_Melonie_on_effect_on_raising_minimum_wage/Final%20Podcast%20MelonieSherman%20JakeBallard%20Raising%20Minimum%20Wage.mp3], Jake and Melonie investigate how raising the federal minimum wage above $10 would affect small business, their employees, and the Dayton area. While investigating, Jake and Melonie interview Dan Young, the owner Young's Dairy in Yellow Springs. Although they expected their results, Jake and Melonie realized how complex this issue really can be.  Resources:  https://www.sba.gov/content/understanding-small-business-activity-state-level-0 [https://www.sba.gov/content/understanding-small-business-activity-state-level-0] https://www.sba.gov/category/advocacy-navigation-structure/frequently-asked-questions-about-small-business-finance [https://www.sba.gov/category/advocacy-navigation-structure/frequently-asked-questions-about-small-business-finance] http://ohiolmi.com/laus/ColorRateMap.pdf [http://ohiolmi.com/laus/ColorRateMap.pdf] http://www.patchworknation.org/bankruptcies-per-1000-people,-2010_44 [http://www.patchworknation.org/bankruptcies-per-1000-people,-2010_44] http://www.daytondailynews.com/news/business/98-percent-of-ohio-businesses-are-small-businesses/njHQ4/ [http://www.daytondailynews.com/news/business/98-percent-of-ohio-businesses-are-small-businesses/njHQ4/]

Ben, Connor, and Keshawn look at Raising Minimum Wage to $15 in Dayton and the Effect on Unemployment Rate.

The following is a podcast [https://ia601504.us.archive.org/3/items/BenConnorKeshawnPodcast/Ben_Connor_Keshawn_Podcast.mp3] that covers the topic of raising the minimum wage to $15. We researched the following topic using these websites: http://www.daytondailynews.com/news/business/economy/brown-wants-to-raise-minimum-wage-to-15-but-doubts/npKmL/ and https://mises.org/library/yes-minimum-wages-still-increase-unemployment. To get thorough research and a good point of view on this topic, we interviewed a local dentists who owns his own dentistry.  Research: http://www.bls.gov/opub/ted/2014/ted_20140403.htm [http://www.bls.gov/opub/ted/2014/ted_20140403.htm] http://www.bls.gov/cps/cpsaat44.htm [http://www.bls.gov/cps/cpsaat44.htm] Articles:  http://www.daytondailynews.com/news/business/economy/brown-wants-to-raise-minimum-wage-to-15-but-doubts/npKmL/ [http://www.daytondailynews.com/news/business/economy/brown-wants-to-raise-minimum-wage-to-15-but-doubts/npKmL/]  https://mises.org/library/yes-minimum-wages-still-increase-unemployment [https://mises.org/library/yes-minimum-wages-still-increase-unemployment]