From The New York Times:
David Neumark, an economics professor at University of California, Irvine, who has studied minimum wage increases in depth, estimated that raising fast-food pay to $15 would result in a 5 percent or 6 percent reduction in employment. He and professor Dube said they were reluctant to speculate about the effects of a $15 wage because while many studies have been done about the effects of a 50 cent or $1 increase in the minimum wage, hardly any have been done about the effects of a sharp jump to the $15 area. Still, professor Neumark said, “Anyone who thinks sensibly about this should be concerned that $15 would have a big effect on employment.”

For the full story, please visit http://www.nytimes.com/2013/12/05/business/15-wage-in-fast-food-stirs-de....
 

 

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