CBO estimates of job losses caused by minimum wage reflect mainstream economic analysis
Following its estimate of job losses likely to result from lifting the federal minimum wage to $10.10, the Congressional Budget Office is on the receiving end of some none-too-gentle second guessing. For example, from this AP story, Jason Furman, chairman of the White House’s Council of Economic Advisers, and council member Betsey Stevenson referred in […]
18th of February 2014
New CBO report on federal minimum wage: 500,000 jobs lost if wage goes to $10.10; most increased earnings go to families not in poverty
Today’s minimum wage report from the Congressional Budget Office recasts the national minimum wage debate. Though couched in the carefully nuanced phrasing of the famously staid nonpartisan research office, it makes clear that hiking the minimum wage has employment consequences, contrary to the claims of proponents. The 40-page report, half of it a methodological appendix, […]