Reducing unemployment

The Director of Economic Policy at the American Enterprise Institute, Kevin Hassett, says reducing the minimum wage to $5.85 an hour (about a 25% decrease) and concession bargaining by unions would have a major impact on unemployment. Of course this would not address the actual causes of the Great Recession, only impose its effects even more harshly upon employees. If thats not enough, the Economic Policy Institute says corporate profits are 5.7% higher than in the 4th quarter of 2007, while the number of jobs is 5.9% lower. This L.A. Times opinion piece excoriates Hassett's idea too.