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OECD backs Biden's plan to raise the minimum wage
OECD backs Biden’s plan to raise the minimum wageLONDON — The U.S. should go ahead with a plan to increase its federal minimum wage to help with a more inclusive recovery from the coronavirus crisis, the Organization for Economic Cooperation and Development said on Wednesday.
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“In several advanced economies, the pandemic and ongoing labour market changes … brought the issue of minimum wages to the fore,” the OECD said in its Going For Growth report published Wednesday.
“This is particularly the case in the United States, where raising the federal minimum wage is among the top priorities. Recent evidence suggests that increases of the minimum wage up to 59% of the median wage have little negative impact on employment,” the Paris-based institution said.
“Raising the federal minimum wage would both incentivize participation and help to ameliorate earnings inequalities,” it added.
https://www.cnbc.com/2021/04/14/biden-plan-to-raise-minimum-wage-would-boost-growth-oecd-april-2021.html
