An estimated 2 million U.S. jobs would be lost if the federal minimum wage is raised to $15 under legislation approved by the Democrat-controlled House of Representatives and endorsed by former Vice President Joe Biden, according to a new study by two economics professors.
“The Arts, Entertainment, and Recreation and Accommodation and Food Services sectors will account for half of these job losses. Workers aged 16–24 will see the highest proportion of job losses, and the majority of jobs lost will be those held by women,” the study says.
“Tipped workers will also lose a greater share of jobs affected by minimum wage than non-tipped workers—one in three tipped workers affected by this federal minimum wage increase will lose their job,” according to the study.
The study was conducted by economists William Even of Miami University and David Macpherson of Trinity University using a methodology based on economic assumptions provided by the Congressional Budget Office.