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CBO: $10.10 minimum wage would lower employment by 500k, raise incomes for 16.5 million

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Raising the minimum wage to $10.10 by 2016 would increase wages for 16.5 million workers but lead to a loss of about 500,000 jobs, according to an estimate from the Congressional Budget Office released Tuesday afternoon. The potential job losses projected by the CBO ranged from a "slight decrease" in employment to as many as 1 million. The CBO examined the effects of a minimum wage increase...

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