Plasmaball
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- Sep 9, 2010
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States with higher minimum wage gain more jobs
People will work if you pay them more. More money means bills are paid, less debt, and more put back into the economy.
Many business groups argue that raising the minimum wage discourages job growth by increasing the cost of hiring. A Congressional Budget Office report earlier this year lent some support for that view. It found that a minimum wage of $10.10 an hour, as President Obama supports, could cost 500,000 jobs nationwide.
But the state-by-state hiring data, released Friday by the Labor Department, provides ammunition to those who disagree. Economists who support a higher minimum say the figures are encouraging, though they acknowledge they don't establish a cause and effect. There are many possible reasons hiring might accelerate in a particular state.
People will work if you pay them more. More money means bills are paid, less debt, and more put back into the economy.