This is pretty consequential, no?
Once
fully implemented in the second half of 2016, the $10.10 option [for
the minimum wage] would reduce total employment by about 500,000
workers, or 0.3 percent, CBO projects (see the table below). As with any
such estimates, however, the actual losses could be smaller or larger;
in CBO’s assessment, there is about a two-thirds chance that the effect
would be in the range between a very slight reduction in employment and a
reduction in employment of 1.0 million workers.
Richard Berman:
The
Center for Union Facts analyzed collective-bargaining agreements
obtained from the Department of Labor’s Office of Labor-Management
Standards. The data indicate that a number of unions in the service,
retail and hospitality industries peg their base-line wages to the
minimum wage. . . . The two most popular formulas were setting baseline
union wages as a percentage above the state or federal minimum wage or
mandating a flat wage premium above the minimum wage.
(Click link below to read more)
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