I suspect that this clip is from the late 1970s, because it cites the federal minimum wage as being $2.50. But everything Milton Friedman says here is still true, and he says it so clearly and with such vigor that it ought to be watched by everyone who cares about employment in America. Listen until the end when he describes the minimum wage as "the most anti-Negro piece of legislation in the history of America." Brilliant stuff.
Oh, by the way, the current unemployment rate for black male teenagers ages 16-19 is now 43%. And that's among the black teenagers in the workforce. The labor-force participation rate for black teenagers is 25%. Only 14% of black male teenagers have jobs. That's a national tragedy, and it has been caused by the people Friedman calls the "do-gooders" who have installed the minimum wage.