Raise Minimum Wage, Make Lives and Economy Better
Editor’s note: Anne Thompson is a policy analyst for the National Employment Law Project, a nonprofit group that promotes policies and programs for lower-wage workers.
….It’s time to raise the minimum wage. It may sound surprising, but it’s exactly what our economy needs. On the campaign trail, President Obama called for raising the minimum wage to $9.50 by 2011; now is the time deliver on that pledge.
Raising the minimum wage would not only help working families, it also would help power the economic recovery. As the economy has sputtered, wages have stagnated, and even folks with jobs are having trouble meeting their families’ basic needs.
Accounting for inflation, weekly wages have actually fallen by 1.3 percent in the past eight months, and the Commerce Department reported that consumer spending, which makes up 70 percent of the economy, dropped in June for the first time in nearly two years — both deeply worrying economic indicators. […]