This is the latest report to find that fears of the $15 minimum wage leading to a restaurant apocalypse could be misplaced.
The minimum wage hike in New York state had no immediate discernible effect on job loss, according to a new report by theEarnings rose much faster for New York state workers as a result of the wage hike when compared to states that didn't raise pay.
The report counters business leaders and economists' predictions that raising the minimum wage would decrease jobs.The US Federal Reserve hasn't yet found a link between raising the minimum wage and job loss. Since New York began gradually raising wages from $7.25 in 2009 to $15 by 2021, the hospitality and retail sectors did not lose jobs as a direct result, according to aThe Fed compared retail and hospitality businesses on the New York-Pennsylvania border. Pennsylvania has not raised minimum wages above the federal $7.25.
Earnings rose in both retail and hospitality as a result of minimum wage hikes. New York hospitality workers earned 33% more in 2018 than they did in 2013, while Pennsylvania hospitality workers earned just 15% more. Retail had a weaker upward trend.
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