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Tue November 19, 2013
What the state could gain by raising the minimum wage
There is legislation pending at the national and state level that seeks to increase the minimum wage. In Michigan it's $7.40 per hour, just over the federal minimum wage of $7.25. A person working full time and earning the minimum would pull down just over $15,300 per year before taxes.
Now, there are three bills from Democrats in the state legislature seeking an increase of Michigan’s minimum wage to $9 or $10 per hour. Opponents of those bills say it would lead to layoffs, decreased hours, and a spike in prices. Proponents say now is the time to increase the minimum wage.
Today, we talked with Yannet Lathrop, policy analyst with the Michigan League for Public Policy and author of the study “Raising the Minimum Wage: Good for Working Families, Good for Michigan’s Economy.”
Listen to the full interview above.