“The most accurate and up to date economic research available shows that gradual minimum wage increases have little to no effect on jobs, according to Maine Center for Economic Policy Analyst Sarah Austin.
Augusta, Maine (Wednesday, September 28, 2016) Maine Center for Economic Policy (MECEP) analyst Sarah Austin made the following statement in response to a State House press conference by opponents of Question 4, the ballot initiative to raise Maine’s minimum wage incrementally from the current $7.50 per hour to $12 by 2020. Austin is the primary author of MECEP’s recent report, Restoring the Value of Work, which analyzes the impacts passage of Question 4 will have on Maine workers, families, businesses, and economy.
“The most accurate and up to date economic research available shows that gradual minimum wage increases have little to no effect on jobs. In many cases, increasing the minimum wage stimulates the economy as workers have more money to spend in their local communities. Hard working Mainers haven’t gotten a raise in the minimum wage in 7 years, even as the cost of food, housing, and healthcare have gone up. When Mainers earn enough to support themselves and their families, our whole economy prospers. Increasing Maine’s minimum wage to $12 will give an average annual raise of more than $3,000 to 181,000 Mainers. By increasing household income, raising the minimum wage will provide 63,000 children a better start in life and put economic security in reach for thousands of Maine families.”
Restoring the Value of Work is available on MECEP’s website.
For a PDF of the full report, click here.
For a PDF of an executive summary of the report, click here.