Thursday, November 26 2015

            We Deliver News to the Sierra
News Fire News spacer Latest News spacer Regional News spacer California News spacer USA News spacer World News spacer Op-Ed spacer Enviro News spacer Sci Tech News spacer Life spacer Odd News spacer Cartoons spacer
Features The Calendar features features Weather features Sierra NightSky features features features Road Conditions features Home spacer

Raising the Minimum Wage to $10.10 Would Lift Wages for Millions, Provide a Modest Economic Boost

EPI Updates Minimum Wage Research as States Move on Wage Increases


By: Economic Policy Institute (EPI)

Dec. 19, 2013 - Today, the Economic Policy Institute released an updated analysis of the Fair Minimum Wage Act of 2013. In Raising the Federal Minimum Wage To $10.10 Would Lift Wages for Millions and Provide a Modest Economic Boost, EPI policy analyst David Cooper shows that increasing the federal minimum wage to $10.10 would give a raise to 27.8 million workers, who would receive about $35 billion in additional wages. A $10.10 minimum wage would increase GDP by $22 billion, creating roughly 85,000 new jobs.

Since EPI's previous analysis, five states—California, Connecticut, New Jersey, New York, and Rhode Island— have adopted higher state minimum wages. By 2014, 21 states plus the District of Columbia will have set minimum wages above the federal minimum of $7.25. These increases underscore the growing recognition that the federal minimum wage is no longer an adequate wage floor.

"It's great that we're seeing states move ahead and not wait for Congress to act," said Cooper, "but with millions of workers struggling to get by, wage growth flatlining, and businesses clamoring for more customers, we need federal legislation to raise wages nationwide and put more money in the pockets of people who will go out and spend it right away."

While these recent state-level increases—particularly California's increase to $10 in 2015—slightly alter EPI's original estimates, raising the federal minimum wage to $10.10 would lift the incomes of millions of working families, boosting their spending power at a time when the U.S. economy is in need of increased consumer spending.

Cooper's analysis also outlines the demographics of workers who would benefit from an increase of the federal minimum wage to $10.10 per hour, noting that:

- The average age of affected workers is 35 years old, nearly 88 percent of workers who would benefit are at least 20 years old, more than a third (34.5 percent) are at least 40 years old.

- Of affected workers, about 54 percent work full time, about 69 percent come from families with family incomes less than $60,000, and more than a quarter have children.

- The average affected worker earns half of his or her family's total income.


Help us bring you more news. Be a real reader: Support YubaNet

By submitting a comment you consent to our rules. You must use your real first and last name, not a nickname or alias. A comment here is just like a letter to the editor or a post on Facebook. Thank you.


Latest Headlines


EPA Pulls Registration for Dow’s Enlist Duo Herbicide Citing High Toxicity Levels

30th Annual Survey Finds Dangerous Toys on Store Shelves

Kentucky Governor Issues Executive Action, Restoring Voting Rights

Badger-Two Medicine: Too Sacred to Drill

Washington Court Recognizes Constitutional and Public Trust Rights and Announces Agency’s Legal Duty to Protect Atmosphere for Present and Future Generations

At One-Year Anniversary of Immigration Actions, Administration Must Vigorously Defend Authority, Says American Immigration Council

Report: More Mexicans Leaving Than Coming to the U.S.

FDA Approves Unlabeled GMO Salmon

New Report: Without Accurate Identity Documents, Transgender People Face Harassment and Discrimination






NEWS . Fire News . Latest . Regional . California . USA . World . Op-Ed . Enviro . Sci/Tech . Life . Odd News . Cartoons
FEATURES . The Calendar .Weather . Sierra NightSky. Road Conditions
YubaNet.com . Advertising. About Us . Support YubaNet . Contact Us . Terms of Use . Privacy

YubaNet.com © 1999-2015
Nevada City, California (530) 478-9600