This report from the Congressional Budget Office confirms what logic already dictates: Increasing the minimum wage causes a reduction in the number of minimum wage jobs. That’s the tradeoff involved in raising the minimum wage. The bigger the raise, the more jobs are jeopardized. We have been working under the assumption that proponents of a minimum wage increase know this and have decided that job losses for some is a price worth paying. We disagree. The increase will be nice for a certain percentage of minimum wage workers, but for the ones who lose their jobs altogether, the increase is catastrophic. They lose out on not only the income, but on the training opportunities and the benefits of being employed when you go apply for your next, higher paying job. Our solution is a better job training system so that people don’t get trapped in minimum wage jobs.

 

CBO Minimum Wage Report 2-14