Hundreds of Economists Call for Minimum Wage Increase
I recently did a story about the minimum wage increase in California for NPR's News & Notes. Listen here.
Here's a story from Reuters:
Hundreds of leading economists urged Congress on Wednesday to boost the U.S. minimum wage, which has been stuck at $5.15 an hour for a decade.
The group recommended a $1 to $2.50 hourly increase and argued that future boosts should be indexed to inflation to protect workers purchasing power from rising prices.
Dismissing the argument that better pay would burden employers and stifle job creation, these experts said a higher minimum wage was necessary to ensure a decent standard of living for low-income Americans.
"We believe a modest increase in the minimum wage would improve the well-being of low-wage workers and would not have the adverse effects that critics have claimed," the group including renowned academics for top U.S. universities said in a statement disseminated by the Economic Policy Institute.