New York Times (February 18)
2013/ 02/ 20 by jd in Global News
“A higher minimum wage would be good for workers and for the economy.” The old job-killing myth “has been debunked… a higher minimum wage boosts pay without measurably reducing employment, while improving productivity. One study from the Federal Reserve Bank of Chicago found that a $1 increase in the minimum wage results, on average, in $2,800 in new spending by affected households in the following year, in large part because the increase helps workers accumulate down payments to buy cars. Owning a car, in turn, helps workers to keep their jobs.”
Tags: Economy, Employment, Federal Reserve, Minimum wage, Productivity, Workers
