$15 Minimum Wage Would Cost Jobs But Lift Others Out Of Poverty
Increasing the federal minimum wage to $15 an hour would cut employment by 1.4 million, bit it would also reduce the number of Americans below the poverty line by 900,000, according to a study released by the nonpartisan Congressional Budget Office. (Wall Street Journal)
The CBO study said that if the $15 minimum wage bill that Democrats in Congress have proposed were passed, 17 million U.S. workers, or about 10% of the labor force, would have their pay increased because they would otherwise earn less than the federal minimum wage. A further 10 million workers who earn slightly more than $15 an hour could also potentially gain pay increases, the study said.