First Seattle – now the Big Apple. Huffington Post reports that the New York state legislature is debating a measure that would increase the state’s minimum wage to $10.10 and enable New York City to set its own minimum wage. According to the article, the income of a minimum wage worker would increase by $100 a week. Low wage workers would spend that money, which would help improve the economy.
Will some jobs be lost if the minimum wage is increased. Probably. But other jobs will be created because of that extra $100 a week in people’s pockets. An increased minimum wage will also spur employers to increase the pay of other hourly workers. President Obama put it best: “America needs a raise.”