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Consumers with shopping bags An increase in the federal minimumn wage could lead to higher spending by those who would have more money to spend, higher customer demand, more business activity and job growth. (Photo: Shutterstock)

The Congressional Budget Office’s report on the effects an increase in the minimum wage could have on employment and family income highlights a number of benefits, although it’s pessimistic about the number of people that could find themselves out of work should the wage rise to $15 be adopted.

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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