Potential Impacts of Minimum Wage Adjustment

Christopher Coye

While it is a waiting game for now, did the analyses done prior to implementation make reference to potential impacts?

Christopher Coye, Minister of State, Finance

“There will always be an adjustment – just in terms of an open market. The market adjusts – whether that may mean a slowdown in employment or even a reversal in the employment process – those are our possibilities. If you just look at demand and supply, what is the impact of an increase in price, that would tell you on a basic level what would be a possible impact. So you just have to look at that and have an idea of what some of the impacts can be.”