| The Congressional Budget Office (CBO) released a new report on Tuesday on the impacts of raising the minimum wage to $10.10 an hour and $9 an hour. It found that a $10.10 minimum wage, implemented by 2016, would mean higher earnings for 16.5 million workers, resulting in $31 billion more in higher earnings. It would also lift nearly 1 million people out of poverty. But it also found that an increase would reduce jobs slightly. ??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, ? it projects. |
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At thinkprogress.org
At thinkprogress.org
