Live Breaking News & Updates on Elusive Employment Effects

 
First, it important to recognize the CBO also observes that income gains resulting from the wage increase are substantially greater than the reduction in income from job losses, thereby lifting nearly a million people out of poverty. Nonetheless, the report’s assumptions about job losses are problematic significantly out of step with modern research on the subject. 
A recent survey of the evidence in the Journal of Economic Perspectives, for instance, by the labor economist Alan Manning, carried an apt title that captures scholars’ views far better: “The Elusive Employment Effects of Minimum Wages.” Obviously, there is some point at which a high minimum wage would reduce employment, Manning explained, but the past few decades of research suggest “the currently observed range of minimum wages apparently does not include the turning-point.” (Note that several states already are on paths toward a $15-per-hour minimum.) ....

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