The Impact of Raising the Minimum Wage

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What is the potential benefit of a $15 minimum wage?

The potential benefit of a $15 minimum wage is that it could benefit nearly 40 million workers and provide some of the lowest-wage workers with an average annual wage boost of about $6,000.

When was the last time the federal minimum wage was raised?

The federal minimum wage was last raised on July 24, extending the longest period in its history without an increase to 14 years.

How many workers could see an increase in wages if the minimum wage is raised to $15?

If the minimum wage is raised to $15, approximately 1 in 4 workers, or nearly 40 million workers, could see an increase in wages.

What wage increase could some of the lowest-wage workers expect with a $15 minimum wage?

<p>Some of the lowest-wage workers could expect an annual wage increase as large as $8,000 with a $15 minimum wage.</p> Signup and view all the answers

Who would benefit from a $15 minimum wage in terms of reducing wage gaps?

<p>A $15 minimum wage would help reduce gender, racial, and ethnic wage gaps for women, Black, and Latino workers who are overrepresented among those earning less than $15 per hour.</p> Signup and view all the answers