Economy

Minimum wage increases aren’t a job killer: Small business survey

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A rally for a $15 minimum hourly wage in New York City in 2015. The city raised its minimum wage to $15 in 2018, while New York State raised its minimum wage to $11.80 in December 2019, and that will increase statewide at the end of 2020 to $12.50.

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Looking for another sign of a strong economy? Nearly half of states in the U.S. just raised their minimum wage, and most small business owners reacted with a shrug. In the latest CNBC|SurveyMonkey Small Business Survey for the first quarter 2020, small business owners across the country report sustained optimism at the start of 2020, and only a minority report a negative business impact resulting from the increased minimum wages.

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Source cnbc.com

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