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New Hampshire’s minimum wage: potential economic impact of the increase
New Hampshire has increased its minimum wage for the first time in ten years?to $6.50 in September 2007 and to $7.25 in September 2008. Antoniya Owens weighs the likely impact on wages and employment.
The potential economic impact of increasing the minimum wage in New Hampshire
This paper estimates the potential economic impact of New Hampshire?s new state minimum wage law on the state?s aggregate employment and wages. According to the analysis, the minimum wage increase would raise the wages of 26,000 workers in the state and would have a negative impact on employment ranging from 300 to 1,500 jobs, which is between 1 percent and 6 percent of workers directly affected by the law. On net, the combined impact of both stages of the increase would raise aggregate wages by approximately $17.4 million. The analysis here focuses on workers with hourly wages between $5.15 ...