Why Minimum Wage Hikes Work, in 3 Charts

The biggest argument against raising the minimum wage is that it’s going to end up cutting jobs. By having to pay each worker extra, the cost of producing goods or services will increase. So, the argument goes, employers will either pass that cost off to customers (by raising prices) or try to find savings elsewhere (by investing in equipment rather than workers, or reducing the hours their employees work). Either way, the total demand for labor will drop.
Read more: http://www.citylab.com/work/2016/12/as-an-anti-poverty-measure-raising-the-minimum-wage-works/510119/?source=Snapzu