Giving America A Raise (In The Minimum Wage) Would Foster Inclusive Growth

Source: Satyam Panday, Beth Ann Bovino, Robert E Schulz, Gabriel J Petek, Standard & Poor’s, Market Insights, September 14, 2016

From the abstract:
U.S. household incomes are rising but disadvantaged workers are still in danger of being left behind, according to this new report from S&P Global’s economists. Even a modest increase in the U.S. federal minimum wage—an investment in the ‘human infrastructure’ of the economy—could encourage more inclusive growth by boosting consumer spending, increasing employee retention and reducing costs associated with worker turnover. These factors lead to improved productivity, the lynchpin of broader prosperity.