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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 219-8211
Secretary of Labor Alexis M. Herman hailed today's release of an
Economic Policy Institute (EPI) study examining the impact of the October 1996
minimum wage increase:
"Last fall, as the minimum wage approached its lowest value in 40 years,
President Clinton gave minimum wage workers a well-deserved pay raise. Critics
argued--as they have countless times before--that the increase would cost
hundreds of thousands of jobs. Once again, we have empirical evidence showing
that is simply not true. EPI's early analysis confirms that we can give the
lowest paid Americans a long-merited pay raise without sacrificing jobs.
"Before the increase, full-time year-round workers earned a minimum wage
of approximately $8,500 a year. Because we raised the minimum wage, they are
now earning approximately $9,500 a year. While a thousand dollar increase may
not sound like much to some, it means a great deal for working families
struggling to get by.
"Raising the minimum wage was not a cure-all, but is critical to make
work pay for millions of low-income Americans trying to reach the first rungs
of our economic ladder.
"In September, America's minimum wage workers will receive the second
step of the two-step increase. Combined with the first increase, the second
40-cent raise will provide a pay hike to more than 10 million working people.
Boosting the minimum wage was an essential victory for the dignity of work and
family."
EPI received partial funding for this report from the U.S.
Department of Labor. Additional support was provided by grants from the
Rockefeller Foundation and the Charles Stewart Mott Foundation.
Archived News Release--Caution:
information may be out of date.
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