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Illinois’ minimum wage is rising from $14 per hour to $15 on Jan 1, the final increase in a series of annual increases from a law Gov. J.B. Pritzker signed in February of 2019.
A recent Congressional Budget Office review on raising the federal minimum to $15 an hour concluded that there was considerable “uncertainty” about its effect on unemployment, and that the ...
Millions of low-wage earners are getting a raise in 2025 as 21 states are slated to hike their minimum pay starting Jan. 1. State laws that index the minimum wage to inflation are behind 13 of the ...
She found that a 10% increase in the minimum wage decreased the absolute teenage employment by 0.6%, with no effect on the teen or young adult unemployment rates. [63] Some research suggests that the unemployment effects of small minimum wage increases are dominated by other factors. [64]
Those who own small businesses say raising minimum wage is causing them to kill jobs and raise prices. Minimum wage boosts affecting 10 million workers in 22 states with varying outcomes Skip to ...
The Raise the Wage Act of 2017, which was simultaneously introduced in the House of Representatives with 166 Democratic cosponsors, would raise the minimum wage to $9.25 per hour immediately, and then gradually increase it to $15 per hour by 2024, while simultaneously raising the minimum wage for tipped workers and phasing it out. [174]
Advocates for the movement also point to research that finds the average estimated employment effect of minimum wage increases to be very small. [61] A common argument against raising the minimum wage in restaurants to $15 is that it could cause cuts to employee hours, as well as potential layoffs or restaurant closures. [57]
According to the Economic Policy Institute, workers in 21 states got a raise on New Year’s Day in 2022. Minimum wage increases ranged from $0.22 to $1.50 an hour, adding between $458 and $3,120 ...