July 25th, 2012

Top economists: Time to raise the minimum wage

Economics & Politics

It’s been three years, as of Tuesday, since Congress last raised the federal minimum wage. And many advocates for the poor say that with low-wage workers struggling, it’s time to do it again.

A group of prominent liberal-leaning economists including Joseph Stiglitz, Jeffrey Sachs, Laura Tyson, and Robert Reich sent a letter Monday to congressional leaders urging them to raise the minimum wage from its current level of $7.25 per hour to $9.80 by 2014. “At a time when persistent high unemployment is putting enormous downward pressure on wages, such a minimum wage increase would provide a much-needed boost to the earnings of low-wage workers,” the group wrote.

Read full story at MSNBC


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