Wednesday, March 12, 2014

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[IWS] CBO: TESTIMONY ON INCREASING THE MINIMUM WAGE: EFFECTS ON EMPLOYMENT AND FAMILY INCOME [12 March 2014]

IWS Documented News Service

_______________________________

Institute for Workplace Studies----------------- Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor---------------------- Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

________________________________________________________________________

 

Congressional Budget Office (CBO)

 

TESTIMONY ON INCREASING THE MINIMUM WAGE: EFFECTS ON EMPLOYMENT AND FAMILY INCOME [12 March 2014]

http://www.cbo.gov/publication/45138?utm_source=feedblitz&utm_medium=FeedBlitzEmail&utm_content=812526&utm_campaign=0

or

http://www.cbo.gov/sites/default/files/cbofiles/attachments/45138-MinimumWageTestimony.pdf

[full-text, 22 pages]

 

This testimony reprises a recent Congressional Budget Office (CBO) report about the effects

of increasing the minimum wage. However, that report includes an appendix describing the

basis of CBO’s findings that is not included in this testimony. See Congressional Budget

Office, The Effects of a Minimum-Wage Increase on Employment and Family Income

(February 2014), www.cbo.gov/publication/44995

 

Estimates of the effect on employment of the options to increase the minimum wage are

rounded to the nearest 100,000 workers.

Numbers in the text, tables, and figures may not add up to totals because of rounding.

 

Contents

CBO

Summary 1

What Options for Increasing the Minimum Wage Did CBO Examine? 1

What Effects Would Those Options Have? 1

The Current Federal Minimum Wage 3

Two Options for Increasing the Federal Minimum Wage 5

A $10.10 Option 5

A $9.00 Option 6

How Increases in the Minimum Wage Affect Employment and Family Income 6

Employment 6

Family Income 7

CBO’s Findings About Employment and Family Income 8

Effects of the Options on Employment 8

Effects of the Options on Family Income 10

The Effect of an Increase in the Minimum Wage on the Federal Budget 13

Effects for People Whose Income Would Rise 14

Effects for People Whose Income Would Fall 16

List of Tables and Figures 17

About This Document 18

 

 

________________________________________________________________________

This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

 




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