Nobel winners call for minimum wage hike

By: Associated Press
By: Associated Press
To join the conversation on this story and others, "like" our KKTV 11 News Facebook page!

More than 650 economists -- five of them Nobel Prize winners -- are calling for an increase in the federal minimum wage, which is now five dollars, 15 cents an hour.
Among the Prize winners are Kenneth Arrow of Stanford University and Lawrence Klein of the University of Pennsylvania. They say the value of the last increase, in 1997, has been "fully eroded."
Critics of a hike contend it would lead employers to cut jobs or move them offshore.
The economists say that a phased-in increase to seven dollars, 25 cents an hour would benefit the labor market, workers and the economy.
Colorado voters will decide next month whether to set Colorado's minimum wage at six dollars, 85 cents per hour, to be adjusted annually for inflation.

KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 4379561 -
Gray Television, Inc.