Big business, and the subservient politicians that pander to them, will not rest until they working people in chains. Time that we hold this governor accountable:
Greitens’s claim that raising the minimum wage would “kill jobs” is not supported by economic research. The National Employment Law Project released an exhaustive report in 2016 looking at every federal minimum wage hike since 1938. The investigators found that year-over-year employment increased 68% of the time after each wage hike. What’s more, the industries most affected by minimum wage more often saw jumps in employment: 73% of the time in retail, and 82% in leisure and hospitality.
“These basic economic indicators show no correlation between federal minimum-wage increases and lower employment levels,” the authors wrote. The only times when minimum wage increases correlated to a decline in employment were during or near recessions. In most other cases, there was a neutral or positive relationship.
When it was first created in 1938, the US federal minimum wage was 25 cents. As a percentage of GDP per capita, that would equate to a wage of about $20 an hour today.