The United States is currently in the middle of a grand experiment in wages. On January 1, 14 states officially raised their minimum wages, 12 of which did so through legislative action as opposed to an automatic adjustment. With minimum wage advocates making major gains in state legislatures in 2015, the tweaks that went into effect on New Year's Day seem designed to answer the question: Will raising the minimum wage actually kill jobs?
That's the argument among opponents of wage increases, who assert that an artificial floor will squeeze out more low-income workers than it helps. Restaurant workers are particularly susceptible due to their status as "subminimum wage" workers who customarily receive tips. When Los Angeles became the largest city in the country to phase in a $15 minimum wage through 2015, it was restaurant industry representatives who hinted that the public would have to deal with major price increases to compensate employees without firing them.
[For more of this story, written by Jared Keller, go to http://www.psmag.com/business-...ing-the-minimum-wage]
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