CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs
'Increasing the U.S. minimum wage may lift some workers out of poverty while leading to as many as 1 million job losses, according to a report from the Congressional Budget Office.
The report was seized on by House Speaker John Boehner, an Ohio Republican who opposes President Barack Obama’s call to increase the minimum wage to $10.10. The federal minimum wage is currently $7.25 an hour.
...A change in employment probably would range from a “very slight reduction” to a decrease of 1 million jobs, CBO said. Some workers would lose their jobs as companies look to offset the change by reducing payrolls, according to the report.'
CBO Says Minimum-Wage Rise May Ease Poverty, Cost Jobs - Bloomberg