Minimum Wage on Migrant Workers and Its Employment Effect: A Case Study of the Yangtze River Delta Region before and after the Financial Crisis

Based on the model of buyer's monopoly, this article takes the Yangtze River Delta Region as an example to analyze the employment effect of minimum wage on migrant workers. Empirical study of statistical data from seven cities in the region demonstrates that minimum wage could contribute to employment of migrant workers. With the impact of the financial crisis, market adjustment could disturb and destabilize the positive effect of minimum wage policies. Therefore, government should take active measures and interfere in the labor market to maintain targeted employment level and economic growth.