In the U.S. today, there are approximately 15 million current minimum wage earners across the country.
The proposed minimum wage increase to $9.00 per hour from the present minimum wage of $7.25 would amount to an approximate $26,250,000 (per hour) increased payroll expenditure across our nation.
Perhaps for a better perspective, present employers across the U.S. would increase their present daily (8 hour) payroll by $210,000,000 (without adding a single worker) effectively keeping employers from hiring new workers, also adding an additional $6,300,000 (3 percent increase, Jan.
1, 2013) additional revenues in the Social Security coffers.
At today’s present minimum wage, the U.S. without the proposed increase could add an additional 3,620,689 (8 hour) new workers to those same payrolls.
Therefore, effectively creating 724,138 new full time jobs and reducing the current welfare rolls of our nations unemployed.
All for the same amount of dollars that the proposed increase would cost.
A smaller minimum wage increase would serve our nation’s workers and add new jobs to our economy.
Our nation’s employers would be better served, along with our nation’s current unemployed.