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What happens to unemployment when labor markets are strictly regulated?
The amount of people hired is reduced, hours are cut, taxes on business and hiring fees increase, and more people become reliant on government subsidies to live.
A good example of a labor protective law that harms jobs is California AB-5, which bans freelance work. It becomes costly to app based employers, and they want to pull out of the California market. This costs gig jobs.
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