The majority of employers are in favor of raising state minimum wages, according to a survey by Careerbuilder, who found that two-thirds of them were in favor of doing so.
But why have employers — historically opposed to minimum wage hikes — turned into supporters? Here's what CareerBuilder's Harris Poll of 2,188 HR professionals found from employers who want an increase in their state minimum wage:
- It can improve the standard of living: 74 percent
- It can have a positive effect on employee retention: 58 percent
- It can help bolster the economy: 55 percent
- It can increase consumer spending: 53 percent
- Employees may be more productive/deliver higher quality work: 48 percent
- It can afford workers the opportunity to pursue more training or education: 39 percent
Also read: Minimum wage hike could improve health
They were also asked what they thought the minimum wage should be increased to. (Current federal minimum wage is $7.25 per hour.) Here's what supporters of an increase said:
- $8 or $9 per hour: 29 percent
- $10 per hour: 29 percent
- $11-$14 per hour: 19 percent
- $15 or more per hour: 7 percent
- No set minimum wage: 9 percent
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
