Tuesday Talk: The Data-Driven Case for Minimum Wage Increase
Arguments for and against increasing Minnesota’s minimum wage from $6.15/hour to a proposed $9.50/hour largely turn on emotional appeals. Declaring that increasing the minimum wage is “right” or “wrong” is an important consideration but it obscures objective financial and economic analysis.
How can data inform the minimum wage debate?
Analysis from Minnesota’s Raise the Wage Coalition suggest that a $9.50/hour minimum wage disproportionately affects women and will result in $470 million overall in increased consumer spending. A recent Congressional Budget Office report finds that federal minimum wage increases would have a strongly positive impact on earnings but would also cause job reductions among the very lowest income earners.
Those are different arguments from “right vs wrong.”
How do we evaluate proposed minimum wage increases? What analysis and policy should we consider?
This morning, from 8-9:30am, join Minnesota 2020’s John Van Hecke to discuss the best ways to evaluate minimum wage policy change.
Post your comments or questions in the box below, scroll down to see the ongoing conversation, and use "refresh" to see new comments.