|
Minimum wage hike would kill a half-million jobs: CBO
A majority of low-wage workers would see their pay rise thanks to the increase and would be substantially better off, including many who would be lifted above the poverty line. But a minority would also lose jobs as businesses choose to invest elsewhere, the CBO said in its analysis of a proposal very similar to the one congressional Democrats have offered. "Once fully implemented in the second half of 2016, the $10.10 option would reduce total employment by about 500,000 workers, or 0.3 percent," the nonpartisan scorekeepers said, adding that there is substantial uncertainty and the loss could be anywhere from "very slight" to as much as 1 million jobs. The $10.10 minimum wage increase the CBO looked at involved raising the rate in three steps from $7.25 an hour now to the full $10.10 on July 1, 2016. That increase would also be indexed to inflation thereafter, and workers whose wages are based on tips would also see an increase. Posted by: Fred 2014-02-19 |
|
| http://www.rantburg.com/poparticle.php?ID=385912 |