"Moreover, as employers are forced to pay low-skilled workers a higher wage, they are less likely to hire such workers. Citing a study by Michigan State University's David Neumark, Horowitz writes that a living wage set at 50 percent above the minimum wage increases the average wage for workers in the bottom tenth on the pay scale by 3.5 percent. However, the same wage increase reduces the...
Minimum Wage: By The Numbers
"Here are the facts behind minimum wage in America:
4.3 million: Number of Americans who have fallen into poverty since President Bush took office
$5.15: Federal minimum wage
26%: How much the inflation-adjusted value of the minimum wage has eroded since 1979
0: Number of times minimum wage has increased since 1997
7: Number of times Congress has increased its own pay since 1997
$0: How much more a year people earning minimum wage earn today compared to 1997
$28,500: How much more a year members of Congress make today compared to 1997
$10,700: Amount a person making minimum wage will earn in a year
$5,000: Amount below the poverty level working 40 hours a week, 52 weeks a year at minimum wage will leave a family of three
7,300,000: Number of workers who would benefit from an increase in the minimum wage
72%: Percentage of adult workers who would benefit from an increase in the minimum wage
1,800,000: Number of parents with kids under the age of 18 who would benefit from an increase in the minimum wage
11 million: Number of jobs added to the economy in the four years after the last minimum wage hike
$8.70: Amount minimum wage would have to be today to have the same purchasing power it had in 1968
2.5 years: Amount of health care for two children which could be bought by raising the minimum wage from $5.15 to $7.25
86%: Percentage of Americans who support raising the federal minimum wage"
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