Economists: $15 Minimum Wage Hurts Low-Wage Workers
The push by labor unions and activists to raise the minimum wage to $15 an hour may hurt young and less-educated workers the most.
In 2013, the Obama administration proposed an increase to the federal minimum wage from $7.25 to $9.00 an hour. President Barack Obama has continued to call for an increase in the federal minimum wage.
The fight focuses on $15 as the new minimum acceptable number to activists and labor leaders. Seattle raised its minimum wage to $15 in 2014, followed by San Francisco and Los Angeles. Gov. Andrew Cuomo signed into law a new $15 minimum wage for New York state in 2016, and the University of California has proposed to pay its low-wage employees $15.
While some major economists have supported Obama’s call for a minimum wage hike, most are not in favor with raising it to $15. Harry Holzer, with the Brooking Institute and Georgetown University, wrote in a report that, “minimum wage increases tend to reduce employment, hurting young and less-educated workers the most.” – READ MORE