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

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Service industry workers listen to remarks and hold up signs during a rally at the National Mall on January 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.

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

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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

by David Brancaccio , Nancy Marshall-Genzer and Rose Conlon Feb 9, 2021
The CBO report says a $15 minimum wage would pull 900,000 people out of poverty but cost almost 1.5 million jobs.

Training program drives more women to become auto mechanics

by Damon Mitchell Feb 9, 2021
One Tennessee high school is persevering with its automotive program, even during the pandemic

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Tech Romance Her Space Holiday

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