SHAHEEN: INCREASING MINIMUM WAGE IS RIGHT FOR NEW HAMPSHIREApril 28, 2014
(Washington, DC) – In advance of the Senate’s consideration of legislation to increase the minimum wage, U.S. Senator Jeanne Shaheen (D-NH) today is citing data that shows New Hampshire’s families, veterans and economy would benefit greatly from raising the minimum wage to $10.10. Currently, New Hampshire’s minimum wage is $7.25.
According to reports, increasing the minimum wage would result in a raise for more than 110,000 Granite Staters, including approximately 67,000 New Hampshire women. The move would also lift more than 10,000 Granite Staters out of poverty.
“Raising the minimum wage will help create New Hampshire jobs, boost our economy, and make sure hard working people can provide for their families,” Shaheen said. “Increasing the minimum wage is the right thing to do for the 110,000 Granite Staters who have earned a raise and for the 10,000 who would be lifted out of poverty. I hope we can pass this bill this week on behalf of New Hampshire workers, families, and our economy.”
According to data from the Bureau of Labor Statistics and analysis from the Economic Policy Institute, raising the minimum wage to $10.10 would also:
- Add $90.8 million to New Hampshire’s GDP;
- Help more than 4,500 New Hampshire veterans earn a living and stay out of poverty;
- Create 400 new jobs.
The federal minimum wage has lagged behind the cost of living for decades and has lost more than 30 percent of its value since 1968. The Minimum Wage Fairness Act would help restore the earning power of the minimum wage by raising it to $10.10 over two years. The Senate is expected to consider the bill this week.
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