UC Berkeley Study: $15.25 Minimum Wage Would Raise Quality Of Life For 600K Angelenos
LOS ANGELES (CBSLA.com) — A proposal to hike the minimum wage in Los Angeles to $15.25 per hour by 2019 would have more benefits than drawbacks, according to UC Berkeley report.
The study from UC Berkeley's Institute for Research on Labor and Employment is among several others looking into the economic impact of raising the minimum wage from $9 an hour to $13.25 an hour by 2017, to $15.25 an hour by 2019, and higher in subsequent years based on the Consumer Price Index.
Another study by labor unions found that raising the minimum wage would add $5.9 billion to the local economy. However, a third study by the Los Angeles Chamber of Commerce found that raising the minimum wage could result in the loss of between 73,000 and 140,000 jobs over five years.
Many of the proposal's opponents have also opposed the choice of UC Berkeley as the economic research firm for the proposal due to the school's left-leaning reputation.
But the Los Angeles Business Council - which recently endorsed the plan - and other local business groups have signaled support for the issue.
UC Berkeley researchers behind the study also worked on a economic study that Mayor Eric Garcetti released last September as he announced his proposal for raising the wage to $13.25 per hour.
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