WOUB quoted Dr. Richard Vedder, Director of the Center for College Affordability and Productivity and Professor Emeritus of Economics at Ohio University’s College of Arts & Sciences, in a story following President Barack Obama’s State of the Union pitch for a nearly 40 percent increase to the national minimum wage.
“Economist of all stripes will agree that if you raise the price of something dramatically, you will have an impact and that economic impact is often unemployment for some,” said Dr. Richard Vedder, an economics professor at Ohio University.
The university could feel the burden too as research at OU is conducted under federal contracts for the government. According to Dr. Vedder, some student employees may already be paid using federal funds. He adds that under an expansive definition of this policy, salaries for some faculty and students may be impacted.
“While some of them might want to jump for joy at the prospect of getting a 10 or 20 percent raise…they may find themselves having their hours reduced…or maybe even lose a job all together.”...
Dr. Vedder also states that the president’s immigration reforms may impact international students at OU and their ability to obtain visas. He adds that the proposed retirement plans will impact the aging population in southeast Ohio.
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