CBO: Minimum Wage Hike Could Cost 500,000 Jobs
Economic Policy Journal
Raising the U.S. minimum wage to $10.10 an hour from its current $7.25 would cut total employment by about 500,000 workers by late 2016, the Congressional Budget Office estimated in a report.
The CBO looked at two options for raising the minimum wage, as President Barack Obama and Democrats are proposing to do. The nonpartisan agency said the range of job losses under the $10.10 option is between "a very slight reduction" and 1 million workers, with the central estimate 500,000. Under the other option analyzed, a $9 minimum wage, CBO's estimate was there would be 100,000 fewer workers by 2016.
Link:
http://www.economicpolicyjournal.com/2014/02/cbo-minimum-wage-hike-could-cost-500000.html
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