Over Labor Day weekend, calls for an increase in the minimum wage reached a fever pitch. Labor Secretary Thomas Perez joined with labor groups in an attempt to shame politicians that do not support a federal wage hike.
Our latest ad, which ran on Thursday in the St. Louis Post Dispatch, illustrates the folly of this argument.
In a November 2015 analysis, Drs. William E. Even and David Macpherson, economists from Miami University and Trinity University, used a methodology developed by the Congressional Budget Office and estimated that 770,000 jobs would be lost if federal legislation mandating a $12 minimum wage were enacted. On a state-by-state level, they found that over 20,000 of those jobs lost would come from Missouri.