EconoMeter: To rebalance economy after COVID, should federal minimum wage be increased?

Irish prime minister Micheál Martin said last week his government is looking at substantially increasing the minimum wage to jumpstart, or at least rebalance, the economy following the pandemic. Much as in the United States, Irish low-wage workers felt the brunt of the pandemic while higher-wage workers were able to stay employed working from home. Martin’s plan refers to the increase in the minimum wage as a “living wage.” President-elect Joe Biden said during his campaign that he wanted a $15-an-hour federal minimum wage. However, some economists have noted concern that a higher minimum wage…

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HEDGE accordingly