Yahoo Finance: Raising federal minimum wage to $15 by 2025 would boost pay for 32 million Americans

By Aarthi Swaminathan
Yahoo Finance, March 9, 2021

Increasing the federal minimum wage to $15 an hour by 2025 will boost wages for 32 million workers in America, a new report says. ...

'It makes great business sense'

...  For many workers, an increase to $15 would have a significant impact on their day-to-day finances. "...it's really a struggle and I'm working from paycheck to paycheck," Tracey Thuo, a 59-year-old worker Wilmington, Del., said at a press conference earlier this week organized by a coalition of groups that support a $15 minimum wage, including Business for a Fair Minimum Wage. ...

"It makes great business sense," Delaware-based Courtney Sunborn, who owns Ecolistic Cleaning, said during the press conference. "I want all of the employees to feel valued for their hard work."

She explained that by paying her workers a minimum of $14.50 an hour — and soon $15 an hour this year — "we've seen that it increases both employee commitment and reliability, but also decreases turnover. And turnover has proven for me to be so expensive," Sunborn said. ...

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