Walter King | Support HB1484

Business executives and small business owners support a higher minimum wage. Raising the minimum wage reduces turnover. Higher wages lead to lower employee turnover, resulting in reduced recruiting and training costs. Raising the minimum wage does not kill jobs. Leading economists have found that increases in the minimum wage have no discernible effect on employment, including employment in high-impactsectors like restaurants and retail. Raising the minimum wage increases consumer spending and boosts the economy. A study by Doug Hall and David Cooper estimated that a $2.55 increase in the minimum wage would increase the earnings of low-wage workers by $40 billion and result in a significant increase in GDP and employment.