WASHINGTON — The Employment Policies Institute has released a study examining proposals to raise the federal minimum wage to $9.80 per hour.
According to EPI’s analysis of recent Census Bureau data, a wage hike of this magnitude is projected to eliminate as many as 35,634 jobs for Ohio’s less-skilled and experienced workers.
Analyzing Census data, the study finds that the legislation is poorly targeted to those in poverty. The average family income of a beneficiary of a $9.80 wage hike in Ohio is $51,889 — well above the $15,080 year-round income cited by proponents of the minimum-wage rate increase.
The average family income figure reflects that nearly 61 percent those who would benefit from the increase either live at home with family, or have a spouse who also works. The study states 6 percent of beneficiaries are single parents supporting children.
“The economic consensus on raising the minimum wage is clear, and these latest proposals are no exception,” said Michael Saltsman, research fellow at EPI. “Instead of reducing poverty rates, a higher minimum wage reduces employment for the least-skilled job seekers.”
Comments
This just in: Fiscally conservative think tank opposes progressive legislation. In other news, sun continues rising in the East.
I wonder how many people still living at home with family would prefer moving out on their own, if only their jobs paid well enough to afford it.
Where's the explanation of how a wage increase would lead to job loss? The family income data has nothing to do with that claim, and the claim itself is only stated and restated. What about the other 34 percent of people who would benefit?
And is there any proposal as to how lower income workers might improve their circumstances? Is working at multiple low-paying jobs every waking hour the new American Dream? Surely the underpaid aren't supposed to rely on the safety net...
Wages have been stagnant for 40 years now, eroding the economic base of the nation. The old diamond-shaped structure has become a pyramid as the middle class has been allowed to shift lower, and with wages so inadequate to basic existence it's only a matter of time before that pyramid's wide base is chiseled away. Until someone can actually explain how increasing wages to reflect the current cost of living and rate of inflation, these proposals are the best means of reinforcing the economy's foundations.
Every time they raise the wage, republicans say the same thing. But it never happens because it's not true. Any working class person who votes for a conservative is crazy. Republicans have never supported the middle class and never will.
Same old Republican party line.During the Bush years the Republican controlled Congress shot down a minimum wage increase three times and it wasnt until the Democrats gained control that the mininum wage was increased.Republicans only take care of the wealthy and the last Republican President that cared about the poor and middle class was Teddy Roosovelt.
Obviously the three posters above are from the "money grows on trees" school of business. This is just common sense for many small business owners. Raise prices, which may be impossible to compete, or let some people go. It's bottom line, profit, loss, and balance. The money tree business school must skip that chapter.
that is a large increase. Why not jump .75 cents and go to $8 an hour? Extremes are never good.
$9.85 is fine but at the same time kick a lot of the welfare and food stamp takers off the public dole.
blah, if the democrats had everything their way most of us wouldn't have a job to work, so minimum wage would be a moot point.
That seems a little extreme to raise minimum wage that high.
But if the repubs had their way minimum wage would probably be $4.00 an hour.
FLHT, if a business owner's labor costs go up then something has to give, and what the report says is that it will cost jobs. That is pure and simple math. So maybe the lower wage isn't the one always effected, but maybe your job will be effected? Bottomline, cuts will have to be made to the workforce because of greater costs to the business. You don't see that concept? Is that concept still a fallacy to you? Is it still illogical to you that higher costs will in all likelihood mean job cuts? Price increases can only go so high, so overhead, jobs, must be eliminated. You don't understand that?
Now is not the time to be raising the minimum wage. You need to wait until this country gets back on its feet. We owe more money than any other nation on this planet.