Most popular travel destinations for , equilibrium in the labor market). If minimum wage is set below the equilibrium wage rate, then the particular labor market will be unaffected by the wage restriction. This is the case for many workers with substantial experience or training that are making wages well above the minimum wage. However, if the minimum wage is set above the equilibrium wage rate for a particular labor market, then the supply of labor exceeds the demand for labor. This results in a surplus of labor or unemployment. Unemployment from minimum wage has its greatest impact on the labor market for teenagers and lowskilled workers. The wages for teenagers are usually the lowest since they lack experience and training. Most popular travel destinations 2016.