Nobel Winning Economists: Minimum Wage Boost Will Help Economy

To hear employers and congressional Republicans tell it, raising the federal minimum wage from a paltry $5.15 an hour to $7.25 will cost jobs and drive the economy down. But 650 economists, including several Nobel Laureates, today said that’s just not true. In fact, raising the minimum wage will have little effect on jobs and will help lift some low-wage workers out of poverty.