It’s time to move away from the rules of thumb that many use to put forward ideas on the economy. Putting one of these “rules of thumb” in simple terms, “raising the minimum wage kills jobs.” In these days of “big data,” surely we can begin to use analytical data to develop real solutions to solve our economic problems. But at a minimum we can use the data at hand instead of the rules of thumb.
Data shows states, which have raised their minimum wage, have stronger economies as measured by job creation, to cite one measure, than those states that did not. A notable but telling exception is this. Counties of $7.25/hr. states that are adjacent to $10.10/hr. states see a comparable growth in job creation as their neighboring state.
By raising the minimum wage in Wisconsin to $10.10/hr., we can begin to move Wisconsin’s economy from the bottom of the ranking of Midwest states and live up to our state’s motto: Forward.