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Seems common sense to me, but i'm sure we'll still have people arguing that the CBO and this study are just wrong and it's all "win" for MW workers.
Study: The 2007 minimum wage hike cost more than 1 million jobs during the recession
Study: The 2007 minimum wage hike cost more than 1 million jobs during the recession
Clemens and Wither used data from the Census Bureau's Survey of Income and Program Participation to estimate the degree to which the minimum wage bumps affected "targeted" workers — those most likely to be affected by these bumps. They were able to take advantage of the fact that many states set their minimum wage higher than the federal minimum, so when a federal minimum wage hike takes effect the actual impact varies state by state. By comparing outcomes in states with large minimum wage hikes to those with small ones, they calculated how much the higher minimum wage affected the labor market.
The authors determined the minimum wage increases lowered the employment-population ratio (the share of working-age adults who were employed) by 0.7 percentage points from 2006 to 2012. During that time, the ratio fell by almost 5 percentage points, from 63.4 percent in December 2006 to 58.6 in December 2012. So while that decline may look like it was all recession, in reality it was around 15 percent due to the minimum wage, according to this paper. As of December 2012, when the working-age population was around 201 million, those 0.7 percentage points would have equaled around 1.4 million fewer people working.