Will Obama's State of the Union minimum wage push help economy?
Will Obama's State of the Union minimum wage push help economy?
- January 29, 2014
- Research by David Neumark, economics Chancellor's Professor and Center for Economics & Public Policy director, and J.M. Ian Salas, economics graduate student, is featured in the Deseret News January 29, 2014
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From the Deseret News:
According to the Washington Post’s Robert Samuelson, the Democrats propose raising
the federal minimum wage for all workers to $10.10 by 2016, but economists disagree
on the job effect. He asked whether or not businesses would take it in stride or would
they react by cutting jobs. He cited that economists David Neumark and J.M. Ian Salas
of the University of California, Irvine and William Wascher of the Federal Reserve
determined that higher minimum wages weaken low-wage employment. “Under plausible
assumptions, even a small effect implies nearly a million fewer jobs over three years,”
Samuelson wrote.
For the full story, please visit http://www.deseretnews.com/article/print/865595115/Will-Obamas-SOTU-mini....
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