Minimum Wages Are Going Up. Jobs May Disappear.
Past studies have found that higher pay doesn’t hurt employment over the short term. New research shows that the effects over time could be more harmful.
This won’t last forever.
Photographer: Stefani Reynolds/AFP/Getty Images
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The minimum wage is roaring back.
President Joe Biden may have failed to drive through Congress an increase in the federal wage floor, which remains stuck at $7.25. But last month, Connecticut, Nevada and Oregon raised their minimums alongside Washington D.C. and a handful of other cities. Twenty-one states raised their minimum wages at the turn of the year. In San Francisco, it is $16.99 an hour. In Emeryville, California, it hit $17.68.