And I stress, whilst correlation does not prove causation, what that downward sloping line suggests is that as minimum wages increase unemployment rates go down. Undertaking such analyses is always difficult, but let’s be clear that purchasing power parity has been taken into account in this case. And that makes the link look significant to me.
From the original source:
The result is not statistically significant
Anyway, the calculation is entirely wrong anyway. It needs to be minimum wage with regard to median wage in that country.