Opinion: New evidence makes it clear that raising the US minimum wage to $15 an hour is the right move by econjared
out that raising the federal wage floor to $15"could trigger elimination of as many of 3.7 million jobs."
In fact, we can do better than this, and I say that as an empirical economist, not as an advocate. While both sides will find fodder for their ideas in the CBO report, the balance of the evidence makes a strong case for increasing the minimum wage to $15 an hour.First, we should recognize that the restaurant association's use of 3.7 million jobs lost reveals a fat thumb on the scale. The CBO was clear that its central job-loss estimate was less than half of that: 1.3 million.
Consider, for example, an analysis of a minimum-wage increase that showed zero job losses. Some of those higher wages would come out of profits, which is what the CBO found and what the restaurant lobby doesn't like.
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