October 27, 2014
For Immediate Release
Contact: Nick Novak, 608-237-7290
nnovak@maciverinstitute.com
The data shows a minimum wage hike would hit teens hardest in the state – costing more than 38,000 16- to 19-year olds their jobs. More than half of the job losses (56 percent) would be for those 25-years old or younger.
Of the 91,521 jobs that would be lost under a $15 minimum wage, more than half (51,292) of the losses would be for women.
“An increase in the minimum wage to $15 an hour would be devastating for Wisconsin families and young people looking to establish a positive work history because many would lose their jobs,” said Brett Healy, President of the MacIver Institute. “While labor unions claim they want to help low-wage workers, spiking the minimum wage to an unrealistic $15 an hour would kill over 90,000 entry level jobs and the opportunity to move up the economic ladder of success. Big Labor should be ashamed of itself for trying to yank away the only way so many people have to get ahead.”
The report is based on data collected by economists David Macpherson of Trinity University (TX) and William Even of Miami University (OH). They used sampling methods similar to those used by the non-partisan Congressional Budget Office (CBO) to assess the employment effects of a $15 minimum wage across many demographics in the Badger State.
“Instead of forcing local businesses to absorb excessive increases in labor costs, policy makers should be finding real solutions that help employers grow their business and create more, better paying jobs, ” Healy added.
The full report is available by clicking here.