Study: Majority of Employers Rally Around Minimum Wage Increase

moneyAccording to a new survey released by CareerBuilder, many employers support the notion of a minimum wage increase.

In fact, 62 percent of survey respondents think the minimum wage should be increased in their own state. We have to note that nine percent of respondents don’t think a minimum wage should be set at all.

Almost half of participants think a fair wage amount should be set between $10 and $14 per hour (right now the federal minimum is $7.25 per hour).

As for why they support the bump in pay, they believe it will improve the standard of living overall. Plus, it could boost employee retention, bolster the economy and increase consumer spending.

There’s always the other side of the coin as employers who are against raising the minimum wage cited a few reasons. For starters, 66 percent of them mentioned it can cause employers to hire less people and it can create issues for small businesses struggling to succeed.