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How raising the minimum wage would affect the U.S. economy
Feb 9, 2021

How raising the minimum wage would affect the U.S. economy

According to the nonpartisan Congressional Budget Office. Its new report says a $15 federal minimum wage would reduce poverty but cost the U.S. jobs. Plus, dispelling the worry that a third round of COVID relief will produce inflation. And, a Tennessee high school program aims to get more women into the auto repair field.

Segments From this episode

There are worries that a third COVID relief package for the U.S. economy will lead to inflation

Jeffrey Cleveland, chief economist at Payden & Rygel, however, is not concerned about “overheating” — that is, pumping in too much stimulus during a recovery and therefore producing inflation as demand ratchets up. Here’s how he sees it: “The economy is not running hot at present. Inflation, by all measures, is still very low,” Cleveland said. “We’ve been hearing this story, I think, for decades that the economy was on the cusp of overheating, and that would lead to higher inflation. And we haven’t seen that inflation, that worrisome inflation, materialize. So I think perhaps down the road these are issues that people should wrestle with, but fears of overshooting and overheating are premature.”

$15 minimum wage would reduce poverty but cut jobs, CBO says

The CBO report says a $15 minimum wage would pull 900,000 people out of poverty but cost almost 1.5 million jobs.
Service industry workers listen to remarks and hold up signs during a rally at the National Mall on Jan. 26, 2021 in support of the introduction of the Raise the Wage Act, which includes a $15 minimum wage for tipped workers and is also included in President Biden's American Rescue Plan.
Jemal Countess/Getty Images for One Fair Wage

Training program drives more women to become auto mechanics

Feb 9, 2021
One Tennessee high school is persevering with its automotive program, even during the pandemic
According to the U.S. Labor Department, under 2% of auto mechanics are women.
Fred Dufour/AFP via Getty Images

Music from the episode

Tech Romance Her Space Holiday

The team

Victoria Craig Host, BBC
Stephen Ryan Senior Producer, BBC
Jonathan Frewin Producer, BBC
Daniel Shin Producer
Jay Siebold Technical Director
Brian Allison Engineer
Meredith Garretson Morbey Senior Producer
Erika Soderstrom Producer
Rose Conlon Producer
Alex Schroeder Producer