Beyond Labels

The President renewed his call for an increased minimum wage, observing that the current federal level does not represent a “living wage.” The NY Times argued in it’s Editorial Staff blog that even $10.10 an hour is not enough. Republicans have expressed concern that raising the minimum wage will eliminate some jobs that “aren’t worth” $7 per hour.

Who’s right? How should this be decided? To be discussed on Monday.

If you’d like to read some more…

Start with Wikipedia…

Minimum Wage

Right-leaning

Cato Institute

Left-leaning

Center for Economic and Policy Research

News Coverage

Forbes (I think reasonably balanced), but you’ll judge for yourself

Congressional Budget Office

The February 2014 CBO Study (it’s not too long)

ABC News “Cliff Notes” Version

Feel free to comment if you think there’s a better source we should consider for Monday.

Here’s what I consider a pretty balanced article about state and local increases in the minimum wage…Minimum Wage

Unfortunately, the headline seems a bit more biased. Maybe “Wages up for many, but fewer entry-level jobs likely.”

It’s easy to see how millions can benefit from wage increases, hard to quantify jobs that are avoided by automation, outsourcing, or just slower economic growth. Without a sense for both sides, it’s tough to identify the best policy.