So many commenters here are taking it for granted that an increased minimum wage invariably leads to increased unemployment and inflation. It looks like empiric

So many commenters here are taking it for granted that an increased minimum wage invariably leads to increased unemployment and inflation. It looks like empirical data doesn't really bear that out. >It appears that if negative effects on employment are present, they are too small to be statistically detectable. Such effects would be too modest to have meaningful consequences in the dynamically changing labor markets of the United States. https://www.researchgate.net/publication/279170454_The_New_Minimum_Wage_Research https://www.researchgate.net/publication/279170454_The_New_M... >wage-price elasticities are notably lower than reported in previous work: we find prices grow by 0.36 percent for every 10 percent increase in the minimum wage. https://research.upjohn.org/cgi/viewcontent.cgi?referer=&httpsredir=1&article=1278&context=up_workingpapers https://research.upjohn.org/cgi/viewcontent.cgi?referer=&htt... (Paraphrased) >A $10 minimum—According to the CBO's projections, the $10 minimum wage would raise earnings for up to 3.5 million workers and "have virtually no effect on employment." Nor would it have an appreciable impact on the number of people in poverty. >A $12 minimum—The $12 minimum wage would benefit up to 11 million workers while reducing overall employment by an estimated 300,000 jobs. The number of people whose annual incomes fell below the poverty threshold in 2025 would be reduced by 400,000. >A $15 minimum—Finally, the $15 minimum wage would benefit up to 27 million workers but cost an estimated 1.3 million jobs. At the same time, a similar number of people (1.3 million) would see their annual incomes rise above the poverty threshold. https://www.cbo.gov/system/files/2019-07/CBO-55410-MinimumWage2019.pdf https://www.cbo.gov/system/files/2019-07/CBO-55410-MinimumWa...