Minimum wage reality

I like this nice little Pew FactTank on the minimum wage.  Yes, the minimum wage needs to go up, but this certainly gives pause at thinking going to $15 is a good idea.  The highest it’s ever been is $8.68 in 2016 dollars.

Raising the minimum wage is not the disaster for hiring that conservatives like to pretend it is; the evidence is for fairly minimal effects.  That said, we’ve never seen a minimum wage hike remotely like the $15 proposal.  $10 strikes me as a far more reasonable start.  But, hey, maybe focusing on $15 is the way to get there.  That said, the minimum wage is an easy-to-understand economic policy, but it terms of helping out the working poor, there’s far more effective and efficient policies.

About Steve Greene
Professor of Political Science at NC State http://faculty.chass.ncsu.edu/shgreene

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