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Title: Job growth picks up in states that raised minimum wage Post by: klaasend on July 19, 2014, 09:26:53 AM http://www.foxnews.com/politics/2014/07/19/job-growth-picks-up-in-states-that-raised-minimum-wage/?intcmp=latestnews (http://www.foxnews.com/politics/2014/07/19/job-growth-picks-up-in-states-that-raised-minimum-wage/?intcmp=latestnews)
Job growth picks up in states that raised minimum wage Published July 19, 2014 Associated Press WASHINGTON – Maybe a higher minimum wage isn't so bad for job growth after all. The 13 U.S. states that raised their minimum wages at the beginning of this year are adding jobs at a faster pace than those that did not, providing some counter-intuitive fuel to the debate over what impact a higher minimum has on hiring trends. Many business groups argue that raising the minimum wage discourages job growth by increasing the cost of hiring. A Congressional Budget Office report earlier this year lent some support for that view. It found that a minimum wage of $10.10 an hour, as President Obama supports, could cost 500,000 jobs nationwide. But the state-by-state hiring data, released Friday by the Labor Department, provides ammunition to those who disagree. Economists who support a higher minimum say the figures are encouraging, though they acknowledge they don't establish a cause and effect. There are many possible reasons hiring might accelerate in a particular state. "It raises serious questions about the claims that a raise in the minimum wage is a jobs disaster," said John Schmitt, a senior economist at the liberal Center for Economic and Policy Research. The job data "isn't definitive," he added, but is "probably a reasonable first cut at what's going on." ::snipping3:: Title: Re: Job growth picks up in states that raised minimum wage Post by: WhiskeyGirl on July 19, 2014, 02:45:30 PM Are the statistics and numbers used in the report adjusted for seasonal employment? Will they be adjusted down in the future?
Later in the article - http://www.foxnews.com/politics/2014/07/19/job-growth-picks-up-in-states-that-raised-minimum-wage/?intcmp=latestnews (http://www.foxnews.com/politics/2014/07/19/job-growth-picks-up-in-states-that-raised-minimum-wage/?intcmp=latestnews) Quote Some economists argue that six months of data isn't enough to draw conclusions. "It's too early to tell," said Stan Veuger, a scholar at the American Enterprise Institute. "These states are very different along all kinds of dimensions." For example, the number of jobs in North Dakota — which didn't raise the minimum wage and has prospered because of a boom in oil and gas drilling — rose 2.8 percent since the start of this year, the most of any state. Wouldn't it be great if all states had the prosperity of North Dakota? Jobs increased because the economy was booming? Wouldn't it be |