The Effects on Employment and Family Income of Increasing the Federal Minimum Wage


The federal minimum wage is $7.25 per hour for most workers. In this report, CBO examines how increasing the federal minimum wage to $10, $12, or $15 per hour by 2025 would affect employment and family income.

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Use the interactive tool to explore how various policies to increase the federal minimum wage would affect earnings, employment, family income, and poverty.

Data and Supplemental Information

Corrections and Updates

On November 7, 2019, CBO reposted this report with some revised values for changes in real income, earnings, and employment. The revisions do not materially affect CBO’s estimates of the effects of increasing the federal minimum wage on employment and income.