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SURVEY: MINIMUM WAGE INCREASE?

By Raef Lawson, Ph.D., CMA, CSCA, CPA, CFA, CAE
August 4, 2015

IMA® surveyed a sample of its senior financial professional members to gauge the impact of an increase in the minimum wage amount. Some findings were surprising.

 

  • 65% believe that raising the minimum wage would have no or minimal impact on their company’s profit.

 

  • 52% feel that raising the minimum wage would have a negative impact on the growth of the U.S. economy.

 

  • 29% believe that such an increase would result in staff reductions.

 

  • 25% believe their firms would have to cut services or hours in response to a raise in minimum wage.

 

  • 57% don’t believe an increase in the minimum wage would cause their firm to significantly raise prices.

 

Read the full report in the IMA Pulse blog at http://bit.ly/1RMyN1h.

 

Raef Lawson, Ph.D., CMA, CSCA, CPA, CFA, CAE, is the Chair of IMA’s Research Foundation and former professor-in-residence and vice president of research and policy at IMA. You can reach him at raeflawson@outlook.com.
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