What A Minimum Wage Increase Means For Jobs And Prices

March for $15 minimum wage
Via Flickr
Brooke Brown
February 14, 2021

“Pay people a living wage.” That was the fundamental idea behind the labor movement’s demands that some of America’s lowest wage earners be paid $15 per hour. In 2012, it was considered an unrealistic idea. What’s happening now?

As of January 1, 2021, some 74 cities, counties, and states raised their minimum wage to meet increases in cost of living – a move that, after years of predominantly Black workers marching in the streets demanding better, shows the public is on board with paying workers a liveable wage. 

But not everyone believes this is a good move.

Opponents argue that if businesses – especially small businesses in industries hardest hit by the pandemic – were required to pay workers more, then the cost of goods and services would increase, and there would be job losses. 

But other advocates argue that more than 33 million people stand to gain the ability to more comfortably provide for their families and face down the financial devastation brought on by the pandemic. They also point out that it wouldn’t go up overnight, but would be phased in over a number of years.

President Biden is pushing for an increase on the federal level. At the very least, frontline and essential workers in retail, fast food, hospitality, and healthcare deserve better pay for the risks they take on everyday to serve the public’s needs!

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