Now Would Be a Terrible Time to Raise the Minimum Wage | US Issues

https://us-issues.com/2020/07/24/now-would-be-a-terrible-time-to-raise-the-minimum-wage/

Re-Blogged From Main Street Patriot

Imagine that your monthly mortgage payment suddenly increased by 50%. And that it happened now, in the wake of COVID-19-related job and income losses.

That’s what some policymakers are now suggesting lawmakers should do by raising minimum wages at the worst possible time. As unemployment is high, many jobs have disappeared, and the lowest-wage industries, such as restaurants and hotels, have already experienced significant business failures. Many that remain are struggling just to stay afloat.

Lower-wage industries have been the hardest hit.

According to a recent survey by Yelp, 35% of shopping and retail establishments—9,682 stores in total—had closed their doors for good as of June 15.

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