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The Effects on Employment and Family Income of Increasing the Federal Minimum Wage
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cbo.gov/system/files/2…
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In an average week in 2025, the $15 option would boost the wages of
17 million workers who would otherwise earn less than $15 per hour.
Another 10 million workers otherwise earning slightly more than $15 per hour might see their wages rise as well.
17 million workers who would otherwise earn less than $15 per hour.
Another 10 million workers otherwise earning slightly more than $15 per hour might see their wages rise as well.
But 1.3 million other workers would become jobless, according to CBO’s median estimate. There is a two-thirds chance that the change in employment would be between about zero and a decrease of 3.7 million workers.
The number of people with annual income below the poverty threshold in 2025 would fall by 1.3 million.
