Signers include • Costco • Sustainable Business Network of Massachusetts • The Longfellow Clubs • City Fresh Foods • Hollister Staffing • The People's Pint • Fire & Ice Restaurant • TAGS Hardware • Porter Square Books • Irving House Inn • Cambridge Naturals • South Mountain Company • Dean's Beans • Responsible Wealth • Statement sponsored by Business for a Fair Minimum Wage. See Many More Signers
As business owners and executives, we support raising the Massachusetts minimum wage to strengthen our economy. Massachusetts was a leader when it passed the nation’s first minimum wage in 1912. But our state minimum wage has been stuck since 2008 at $8 an hour - just $16,640 a year for health aides, childcare workers, cashiers, security guards and other minimum wage workers. With less buying power than it had in the 1960s, today’s minimum wage impoverishes working families and weakens the consumer demand at the heart of our economy.
Raising the minimum wage makes good business sense. Workers are also customers. Minimum wage increases boost sales at local businesses as workers buy needed goods and services they could not afford before. And nothing drives job creation more than consumer demand. Businesses also see cost savings from lower employee turnover and benefit from increased productivity, product quality and customer satisfaction. A higher minimum wage will keep more dollars circulating in our local economy and reduce the strain on our social safety net caused by inadequate wages.
A recent national poll shows that 67 percent of small business owners support increasing the federal minimum wage and adjusting it yearly to keep pace with the cost of living. The most rigorous studies of the impact of actual minimum wage increases show they do not cause job loss – whether during periods of economic growth or during recessions.* The minimum wage would be $10.75 today if it had kept up with the rising cost of living since the 1960s instead of falling behind.
We support gradually raising the Massachusetts minimum wage over three years to $11 by 2016 – and then adjusting it annually for inflation to keep up with the cost of living. A fair minimum wage makes good sense for our businesses, our workforce and our state.
* Research, polls and other resources are posted here
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