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Politics : Formerly About Advanced Micro Devices
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To: longnshort who wrote (775007)3/16/2014 3:00:44 PM
From: J_F_Shepard  Read Replies (2) of 1573675
 
The CBO Report......

Effects of the $10.10 Option on Employment and
Income.
Once fully implemented in the second half of
2016, the $10.10 option would reduce total employment
by about 500,000 workers, or 0.3 percent, CBO projects.
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 (see
Ta b l e 1 ) .
Many more low-wage workers would see an increase in
their earnings. Of those workers who will earn up to
$10.10 under current law, most—about 16.5 million,
according to CBO’s estimates—would have higher earn-
ings during an average week in the second half of 2016 if
the $10.10 option was implemented.
1
Some of the people
earning slightly more than $10.10 would also have higher
earnings under that option, for reasons discussed below.
Further, a few higher-wage workers would owe their jobs
and increased earnings to the heightened demand for
goods and services that would result from the minimum-
wage increase.
1. In addition to the people who became jobless, some workers
earning less than $10.10 per hour and not covered by minimum-
wage laws would also not have increased earnings
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