Raising the Minimum Wage: Cure or Curse?

By: ETFdb
There’s been a lot of talk lately about raising the minimum wage, both on the federal and local level. In his State of the Union address earlier this year, for instance, President Obama announced an executive order raising the minimum wage for federal contract workers to $10.10 per hour from $7.25, and he called for a similar increase for all minimum wage workers nationwide. Meanwhile, Port Authority of New York and New Jersey commissioners are pushing for a similar wage increase, just one example of similar efforts happening nationwide. These moves come amid still sluggish growth in average hourly earnings, broad dissatisfaction across the political spectrum about the distribution of wealth and income in the United States, and growing concerns about how technology and globalization are altering the labor market. Yet whether raising the minimum wage is good for the economy or not spurs heated debate. Some argue that it’s [...] Click here to read the original article on ETFdb.com. Related Posts: No Related Posts
There’s been a lot of talk lately about raising the minimum wage, both on the federal and local level. In his State of the Union address earlier this year, for instance, President Obama announced an executive order raising the minimum wage for federal contract workers to $10.10 per hour from $7.25, and he called for a similar increase for all minimum wage workers nationwide. Meanwhile, Port Authority of New York and New Jersey commissioners are pushing for a similar wage increase, just one example of similar efforts happening nationwide. These moves come amid still sluggish growth in average hourly earnings, broad dissatisfaction across the political spectrum about the distribution of wealth and income in the United States, and growing concerns about how technology and globalization are altering the labor market. Yet whether raising the minimum wage is good for the economy or not spurs heated debate. Some argue that it’s [...]

Click here to read the original article on ETFdb.com.

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