agreed that minimum wage laws increase unemployment among unskilled and young workers, while 26.5% disagreed with the statement.[154]. [89] A growing number of other California cities have also enacted local minimum wage ordinances to increase the minimum wage to $15.00 per hour or higher, including Berkeley, El Cerrito, Emeryville, Mountain View, Oakland, Richmond, and San Jose. As of October 2016, there have been 29 states with a minimum wage higher than the federal minimum.

[80], In the current wave of minimum wage legislative action, Seattle, Washington was the first city to pass on June 2, 2014 a local ordinance to increase the minimum wage for all workers to $15.00 per hour,[81] which phases in over seven years.

The minimum wage would be $11 in 2016 if its real value had remained at the 1968 level[98][99][100]; it has instead generally tracked the 1960 real minimum wage. The majority of states do not follow the federal wage since they have a higher minimum wage that is set above the $7.25 hourly rate, in fact, 29 states in the US have a higher minimum wage than the federal wage. Four more states and 23 more cities and counties will join later in the year, according to NELP. Neumark's review further found that, when looking at only the most credible research, 85% of studies showed a positive correlation between minimum wage hikes and increased unemployment. [117] In 2014 the state with the highest minimum wage in the nation, Washington, exceeded the national average for job growth in the United States. Minimum Wage", "Seven Nobel Laureates Endorse Increase in U.S. [126] However, there are studies that show that higher prices for products due to increased labor cost are usually only by about 0.4% of the original price. [119], A 2012 study led by Joseph Sabia estimated that the 2004-6 New York State minimum wage increase (from $5.15 to $6.75) resulted in a 20.2% to 21.8% reduction in employment for less-skilled, less-educated workers. [17] Sweatshops employed large numbers of women and young workers, paying them what were considered nonliving wages that did not allow workers to afford the necessaries of life. [27] On June 4, 1912, Massachusetts passed the first minimum wage legislation in the United States, which established a state commission for recommending non-compulsory minimum wages for women and children. [66][67][68] Later in 2014, voters in the Republican-controlled states of Alaska, Arkansas, Nebraska and South Dakota considered ballot initiatives to raise the minimum wage above the national rate of $7.25 per hour, which were successful in all four states. Lydia DePillis contributed to this report.

Who Minimum Wage Increases Bite: An Analysis Using Monthly Data from the SIPP and the CPS. "Companies Raising the Minimum Wage."

Some city/county/state government employers and companies have higher minimum wage rates than the state minimum. [28][29] The passage of the bill was significantly assisted by the Lawrence textile strike which had raged for ten weeks at the beginning of 1912. [36], The 1938 minimum wage law only applied to "employees engaged in interstate commerce or in the production of goods for interstate commerce," but in amendments in 1961 and 1966, the federal minimum wage was extended (with slightly different rates) to employees in large retail and service enterprises, local transportation and construction, state and local government employees, as well as other smaller expansions; a grandfather clause in 1990 drew most employees into the purview of federal minimum wage policy, which by then set the wage at $3.80.[37]. The results provided evidence that raising minimum wage has support across party lines. According to a February 2013 survey of the University of Chicago IGM Forum, which includes approximately 40 economists: According to a fall 2000 survey conducted by Fuller and Geide-Stevenson, 73.5% (27.9% of which agreed with provisos) of American economists surveyed[How many?] Price V. Fishback, Andrew Seltzer. Seattle, Others Raise Their Statutory Minimum Wage Rates", "Seattle City takes lead to raise minimum wage to $15 per hour", "Voters in SeaTac, Wash., Back $15 Minimum Wage", "Washington city votes to raise minimum wage to $15", "Minimum Wage Ordinance (MWO) - Office of Labor Standards Enforcement", "State Minimum Wages | 2017 Minimum Wage by State", "D.C. gives final approval to $15 minimum wage", "Los Angeles City Council approves landmark minimum wage increase", "The mayor of Los Angeles just signed a $15/hr minimum wage bill into law", "Outrage after big labor crafts law paying their members less than non-union workers", Minimum wage loophole written to help labor unions, "Minimum wage loophole written to help labor unions", Federal Minimum Hourly Wage for Nonfarm Workers for the United States, Consumer Price Index for All Urban Consumers: All Items in U.S. City Average (CPIAUCSL), "States' Minimum Wages Rise, Helping Millions of Workers", "Federal Reserve Bank of St. Louis, series STTMINWGFG", "Federal Reserve Bank of St. Louis, series CPALTT01", "Consumer Price Index for All Urban Consumers: All Items", "The U.S. Economy Is Suffering from Low Demand. Jan. 1, 2021: $11.75 regular, $5.87 tipped, Jan. 1, 2022: $12.55 regular, $6.27 tipped. [105], In neoclassical economics, the law of demand states that—all else being equal—raising the price of any particular good or service reduces the quantity demanded. As of January 1, 2020, if a worker under 18 works more than 650 hours for the employer during any calendar year, they must be paid the regular (over 18 wage). For employers with 14 or fewer, $11.00 starting on January 1, 2020; $11.60 on January 1, 2021; $12.20 on January 1, 2022; $12.80 on January 1, 2023; $13.40 on January 1, 2024; $14.00 on January 1, 2025; $14.60 on January 1, 2026; and $15.00 on July 1, 2026. As of January 2018,[update] there were 29 states with a minimum wage higher than the federal minimum.

[304], The minimum wage for tipped-employees increased to $4.45 per hour as of July 1, 2019; and $5.00 per hour as of July 1, 2020. Funny. Thus, employers may accept some combination of lower profits, higher prices, or increased automation. For a review article that analyzes the classical, Keynesian, and underconsumptionist approaches to wages, see, CS1 maint: DOI inactive as of August 2020 (. Families with income more than 6 times the poverty threshold would see their incomes fall (due in part to their business profits declining with higher employee costs), while families with incomes below that threshold would rise. Though tipped workers and some farm and seasonal workers are paid less in many states, pay for the vast majority of hourly employees in the U.S. is …

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