substantial benefits to low-wage workers without negative effect.
Although there are still dissenters, the best recent research has
shown that the job loss reported in earlier analyses does not, in
fact, occur when the minimum wage is increased. There is little
question that the overall impact of a minimum wage is positive, as
the following facts make clear:
If the minimum wage were increased nationally to $7.25:
o 14.9 million workers would receive a raise,
o 80% of those affected are adults age 20 or over, and
o 7.3 million children would see their parents income rise.
Families with affected workers rely on those workers for over half of
their earnings.
46% of all families with affected workers rely solely on the earnings
from those workers.
Some minimum wage workers remain in low-wage jobs for substantial
periods.
The best recent research on the economic impact of the minimum wage
shows positive effects without job loss.
Even the research that suggests a negative labor market effect shows
only a minimal impact that is more than offset by the higher wage
levels.
The states that have adopted higher-than-federal minimum wages have
seen low-wage workers' incomes rise with no negative side-effects.
Over 650 economists, including five Nobel Prize winners and six past
presidents of the American Economics Association, recently signed a
statement stating that federal and state minimum wage increases "can
significantly improve the lives of low-income workers and their
families, without the adverse effects that critics have claimed" (EPI
2006).
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