CBO Says Increasing Minimum Wage Will Mean Job Losses
A new report claims a boost in the minimum wage could cost jobs.
The report from the non-partisan Congressional Budget Office says half-a-million jobs could be lost by 2016 if the minimum wage is increased to 10-dollars-and-10-cents an hour.
The national minimum wage now stands at seven-dollars-and-25-cents per hour. The White House is pushing hard for a minimum wage boost.
Before the report came out, presidential spokesman Jay Carney cited what he called “ample documentation” that boosting the minimum wage does not have a significant impact on jobs. (Metro Network Inc)