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In BC the minimum wage is set at $15.20/hour, this has in the past resulted in an excess supply of labour of 15 million hours.
In BC the minimum wage is set at $15.20/hour, this has in the past resulted in an excess supply of labour of 15 million hours. Now fast forward to 2021, the BC economy is experiencing a severe labour shortage due to the pandemic and businesses are having to raise wages to $18.00/hour to attract employees. What will happen to wages and employment?Please include a graph to along with your explanation of the current employment situation.
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