[quote=EconProf]We economists are largely in agreement about raising the minimum wage: it will kill jobs.
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No, we economists are NOT largely in agreement that it will kill jobs. There is little evidence that it ever has before. At very best, economists have no f’ing clue whether it will kill jobs. At worst, they know exactly what will happen.
A plurality of economists think that the costs of raising the minimum wage are outweighed by the benefits.
At least 600 phd economists think that increases in the minimum wage “have had little or no negative impact on employment of minimum-wage workers:
In recent years there have been important developments in the academic literature on the effect of increases in the minimum wage on employment, with the weight of evidence now showing that increases in the minimum wage have had little or no negative effect on the employment of minimum-wage workers, even during times of weakness in the labor market. Research suggests that a minimum-wage increase could have a small stimulative effect on the economy as low-wage workers spend their additional earnings, raising demand and job growth, and providing some help on the jobs front.
