A new study suggested that if the minimum wage is raised to $15 in one of the richest counties in the United States, the resulting job loss would number in the tens of thousands.
Maryland’s Montgomery County, bordering Washington, D.C., is the 11th-richest county in the United States, according to the 2012 American Community Survey, with the medium income being $95,965.
A bill by Montgomery County Council member Marc Elrich, a Democrat, would raise the current minimum wage from $11.50 to $15 an hour, the Washington Post reported. According to a study released by Philadelphia-based economic consulting group PFM on Aug. 1, not even the county’s wealth can save the 47,000 minimum wage jobs that would be lost.
According to the Post, PFM’s study revealed that should the minimum wage be raised to $15, the loss of income would place in the hundreds of millions.
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