Alan Krueger, a Princeton University economist and a top adviser under two Presidents, has died at age 58 after taking his own life.
"Krueger was chief economist at the Department of Labor under President Clinton from 1994 to 1995, and chair of the White House Council of Economic Advisers under President Obama from 2011 to 2013."
Krueger was also known for his research that found that raising the minimum wage did not raise unemployment. The 1994 study co-authored with David Card was titled “Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania.”
The research looked at the effects of New Jersey's minimum wage rising from $4.25 to $5.05 per hour on April 1, 1992. Comparisons were made to Pennsylvania, where the minimum wage did not change at the time. To get a sense of the impact, 410 fast-food restaurants in New Jersey and eastern Pennsylvania were surveyed before and after the rise.
“We find no indication that the rise in the minimum wage reduced employment,” the study reads.
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