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A $15 minimum wage reduces poverty, and doesn’t necessarily cut jobs

A $15 an hour minimum wage won’t slash jobs in low-income areas, but it will help reduce poverty, according to a new study from the University of California, Berkeley.

The study, conducted by Anna Godoey and Michael Reich, economists at UC Berkeley’s Center on Wage and Employment Dynamics, suggests that a proposal to raise the federal minimum wage to $15 an hour by 2024 would not reduce employment rates, weekly hours worked, or annual weeks worked. The study notes that $15 an hour in 2024 is roughly equivalent to $13 an hour today.

In their paper, Godoey and Reich suggested a few reasons why minimum wage increases do not necessarily lead to a loss of low-wage jobs.

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