The Effects of a Minimum-Wage Increase on Employment and Family Income

Source: Congressional Budget Office, Pub. No. 4856, February 2014

From the blog post:
Increasing the minimum wage would have two principal effects on low-wage workers. Most of them would receive higher pay that would increase their family’s income, and some of those families would see their income rise above the federal poverty threshold. But some jobs for low-wage workers would probably be eliminated, the income of most workers who became jobless would fall substantially, and the share of low-wage workers who were employed would probably fall slightly. ….