U.S. minimum wage is low by global standards

02/17/2013 | Economist (tiered subscription model), The

President Barack Obama's proposal to raise the U.S. minimum wage by 24% comes at a time when America's minimum is one of the lowest among developed economies, according to The Economist. Proponents say the plan would increase the poorest workers' spending power and reduce poverty. Critics say it would decrease jobs for low-skilled workers.

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Economist (tiered subscription model), The

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