increasingly difficult for anybody to get by on a minimum wage or low-paying job. now, let s look at the fax. in 2014 the minimum wage went up in 14 states. and the center for economic and policy research says in those states, in those particular states, quote, employment growth was higher. outside of the people with bigger paychecks, what benefits do you hope to see in your city? well los angeles has 18% of its workforce living in poverty. this increase is going to result in a pay increase for nearly 800,000 people. more than the entire population of boston. so this is a huge step forward in terms of raising the standard of living for so many people. but it s also putting $6 billion in disposable income into our local economy.
this is a controversial question and one recent study says that, yes, it does. according to the center for economic and policy research, the 13 states that boosted their minimum wage in january have had stronger job growth than the 37 that did not. let s bring in christine romans, our chief business correspondent and the host of cnn money. break this down for us. the chart shows it nicely when you look at the 13 states by the beginning of this year had raised their minimum wage. those states in green had jobs growth that went along with it, new jersey, the only one that also raised the minimum wage but actually had jobs lost. you look at this analysis, this particular analysis here from the cepr, which is a left leaning think tank, but going with labor department data and some analysis from goldman sachs, and it finds that in these states that are raising their minimum wage you are seeing job growth coming with it. this has been hotly contested and debated among economists for deca
republicans probably see it as politically challenging. back to you. all righty. kristen welker for us from the white house. thank you so much. happy fourth. hope you can enjoy it. you, too. joining us to explain what this positive economic news may mean to you is nicole woo from the center for economic and policy research. hi, nicole. happy fourth. happy fourth to you. when we see the markets at record high levels here, but unemployment still above 6%. the first question becomes, is this just a recovery for the rich or across the board? is everybody sharing in this good news? well, the june job numbers really were good. we saw broad base gains in many different sectors. manufacturing, restaurants, health care. it was a very good month. having these five months of over 200,000 jobs being created every month for five months as the president said is a great sign that there will be some more momentum, we hope, in this economy. that can lead to better jobs and
when they constituted about a third. but, for example, only 20 fortune 500 companies have women ceos. today women have made good gains but on average, they make 77 cents of every dollar a male counterpart makes. but most startling data on women in the workplace came out from a study from two left-leaning think tanks, the center for american progress and the center for economic and policy research. it turns out that the most important economic trend of the last 30 years might not be high tech, but rather, high employment of women. if women hadn t entered the work force by the millions over the last three decades, the study says, the u.s. economy would be about 11% smaller. the report, which was partially funded by the department of labor, found that if women worked at 1979 levels, the u.s. economy would have lost over
last week detroit filed the largest municipal bankruptcy in u.s. history. but is it one or are there more defaults to come? my guest says there are more to come. she predicted a wave of municip municipal bankruptcies in 2010. also dean baker, he is the co-founder for the center for economic and policy research. welcome. so meredith, lay out the case as to why you feel that, you know, we re going to see another wave of detroit-like bankruptcies? it doesn t have to come in the form of bankruptcy, but it certainly will come in the way of default. the way i see it, and the way i saw it back in 2010, not that it would happen all at once, but that it would happen over the