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If minimum wage increases were a drug, governments would have to conduct trials and monitor adverse effects afterward. That's what happened in Seattle when it raised the minimum wage in 2014.
Wage increases lead to small price increases The study found that after the law went into effect prices saw a one-time increase of 3.7%, or about 15 cents for a $4 item.
California implemented its $20 minimum wage law for fast-food workers on Monday, bumping pay up to 25% from the state’s $16 minimum. Impacting over 500,000 workers in the state, the mandate was ...
Smaller employers with 25 or fewer employees would have been required to do the same but at a slower rate: $17 an hour next year and $18 an hour in 2026. ... ‘This $18-an-hour minimum wage is ...
The way layoffs affect the economy varies from the industry that is doing the layoffs and the size of the layoff. If an industry that employs a majority of a region (freight in the northeast for example) suffers and has to lay employees off, there will be mass unemployment in an economically rich area.
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. [171]
This year California dramatically raised its minimum wage for fast food workers from $16 to $20 an hour, the largest single minimum wage increase a state government has ever implemented.
The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above. That is because the main table does not use the rate for cities or regions.