No problem on my system, try these if you want.
thanks
....not ....even remotely a study or reputable source. This is a news article without sources listed...
This is the report but not the study. I want to know HOW they came to these numbers. Though its interesting that they would list this bit about how 16.5 million workers would see an increase in weekly pay. And it is a "range" of workers that may or may not loose their jobs. They say that a "slight" which is code for "not enough to put into a percentage" to "one million" may loose their job. So basically 0-1,000,000 is their range. To play it safe they put in 500k average job loss. Though again I don't know what they are basing this one. Or if they are factoring in the increased spending power as an economic buffer.
Although if you look at the chart on page 2 (it shows as page 6 of the PDF but page 2 of the document) shows the following results
If the Minimum wage is raised to 10.10
- Estimated Job loss is 500k (possibly)
- Range is between a miniscule amount and 1 million total job losses
This is really where the negative end. The positives would be
-16.5 million workers will see a raise in their weekly income
-A total of 5 billion dollars a year will be added to the average income of families living below the poverty line
-A total of 12 billion dollars a year will be added to the average income of families living between 1 and 3 times the poverty line.
-A total increase of 2 billion for those between 3 and 6 times the poverty line.
-A total decrease of 17 billion for all those above 6 times the poverty line
-A total estimated 900k people will be raised out of poverty.
So basically all households of every income level except for those making 6 times the poverty line (which for a family of 4 is about 150k a year) will see an increase.
For every estimated job loss nearly 2 people will be brought out of poverty. An added 17 billion will be added to lower income spending which helps the economy. Thankfully they did factor this in and gave a better estimate. However it sounds like a hell of a number when you say "500,000" but the percentage that is mentioned is 1.5%. That means there will be a temporary increase in unemployment by 1.5% which would not be counted towards other economic factors. *EDIT* To add here I re-read that section. Thats only 1.5% of the 33 million workers that work on minimum wage. That would mean even less than 1.5% increase in unemployment across the board. To put this in perspective I have listed at the bottom of this post a snipit from the January 2014 BLS Job report. *end edit*
For example if we decreased unemployment by 2% over the course of the next 3 years then we would see an overall decrease of unemployment by .5% and we would have nearly a million people out of poverty.
So far these numbers seem fantastic. And the 500k jobs that would be lost are called "net loss" which incorporates potential gain reductions. These again are estimates. So its not quite the same as saying 500 thousand people will loose their jobs tomorrow.
Both are news articles. Better than the first but not as good as the CBO report.
BLS News Release:January 2014 said:
"Total employment, as measured by the household survey, increased by 616,000 over the month"
So in January alone we had more jobs added to the economy than the total net loss of a 3 year stretch after increased minimum wage.