Tuesday, May 21, 2024
Hawai'i Free Press

Current Articles | Archives

Thursday, April 28, 2022
Survey: 62 Percent of Economists Oppose $15 Federal Minimum Wage
By News Release @ 8:35 PM :: 1222 Views

New Survey: 62 Percent of Economists Oppose $15 Federal Minimum Wage

Three-fourths believe ending federal tip credit will slash tipped restaurant jobs

News Release from Employment Policies Institute

WASHINGTON, D.C. (April 28, 2022) — Today, the Employment Policies Institute (EPI) released a new survey reflecting labor economists’ views of a federal $15 minimum wage conducted by Dr. Lloyd Corder of CorCom, Inc., Carnegie Mellon, and the University of Pittsburgh.  

The online survey was completed by 160 US economists in February 2022. Responding economists specialized primarily in labor (69%), and a majority of economists (63%) had over 20 years of experience in the field

You can view the full survey and a breakdown of findings in the Washington Free Beacon.

Key conclusions include:

A significant majority (62%) oppose raising the federal minimum wage to $15 per hour.

Three-quarters (75%) believe a $15 minimum wage would negatively affect employment for 16-19 year olds.

Eighty-one percent agree it would negatively impact small businesses.

In CA and HI where proposals include increases to $18 per hour, economists overwhelmingly agreed (73%) this would decrease employment in the hospitality industries in each state.

Nearly three-quarters (73%) believe that eliminating the tipped wage will reduce the number of tipped jobs in the restaurant industry.

Fifty-eight percent believe raising the wage to $15 will add to inflation.

These findings support the overwhelming majority of studies demonstrating minimum wage hikes cause job loss, including a Congressional Budget Office report last year which assessed the Raise the Wage Act of 2021 would have killed up to 2.7 million jobs.

“While the loudest voices argue a $15 minimum wage won’t hurt employees and job opportunities, this survey indicates they are in the minority compared to economic experts,” said Michael Saltsman, Managing Director of the Employment Policies Institute. “As the economy recovers from pandemic shocks, the majority of economists agree a $15 federal minimum wage hike would cause more pain for businesses and their employees.”

Founded in 1991, the Employment Policies Institute is a non-profit research organization dedicated to studying public policy issues surrounding employment growth. In particular, EPI focuses on issues that affect entry-level employment. Learn more at EPIOnline.org.

###

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii