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)