Job seekers line up at an “Amazon Jobs Day” fair in Fall River, Mass., August 2, 2017. (Brian Snyder/Reuters)
Implementing a $15 federal minimum wage would result in the elimination of some 1.3 million jobs, according to a report released by the Congressional Budget Office Monday.
“About 1.3 million workers who would otherwise be employed would be jobless in an average week in 2025,” the report reads. “That decrease would account for 0.8 percent of all workers and 7 percent of directly affected workers who would otherwise earn less than $15 per hour.”
The report scores legislation introduced by Representative Bobby Scott (D., Va.) that would gradually phase in a $15 minimum wage over five years and would eliminate the minimum-wage exemption that currently applies