WASHINGTON — The nonpartisan Congressional Budget Office said in a report released Tuesday that an increase in the federal minimum wage to $10.10 by 2016, a legislative proposal supported by President Obama and Congressional Democrats but opposed by some retail groups, could lead to a loss of 500,000 jobs.
But the new CBO report also said a counter-balancing, positive effect would be an increase in income levels. The report said a wage hike to $10.10 an hour tied to inflation could increase the average weekly incomes of about 16.5 million low-wage earners, increase the pay of low-wage earners by a total of $31 billion and lift 900,000 families above the poverty line.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"