involves sharp edges, and put down any lethal breakfast utensils. Good. I want to talk about the federal minimumwage. Sorry.
You are sick of the minimumwage. I am sick of the minimumwage. But somebody is not sick of the minimumwage because they are always trying to raise it (proof, I suspect,
The Biden Administration has proposed raising the federal minimumwage to $15 an hour as a part of its COVID-19 economic relief plan. While this increase may help some workers, it is likely to harm others, notes AAF’s Director of Labor Market Policy Isabel Soto. Based on supply and demand data, she considers which
The Biden Administration has proposed to more than double the federal minimumwage from $7.25 to $15 an hour.
While a $15 minimumwage could help some employed workers, the available data on the supply and demand side of the labor market suggest that it would price others out of the market and further damage many vulnerable small businesses.
On the supply side of
Eakinomics: Recent MinimumWage Hikes
As Eakinomics noted recently, there is a concerted effort to make sure that the administration gets no credit for improved economic performance. One part of that effort has been to argue that rising wages are not due to a stronger labor market but are instead the direct result of recent
Wages are rising throughout the economy, and some are attributing this growth to minimumwage increases in a number of states. While these minimum-wage hikes have contributed to rising wages for some workers, the data indicate they are not the only factor, argue AAF's President Douglas Holtz-Eakin and Labor Policy Data Analyst Isabel Soto
The labor market is in a period of wage growth, and proponents of raising the minimumwage are claiming that minimum-wage hikes in several states are driving this growth.
This analysis suggests that raising the minimumwage does contribute to rising wages at the lower end of the income distribution, but wages