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Study: Wage hike will improve economy
Updated: Friday, 15 Feb 2013, 12:57 PM MST
Published : Friday, 15 Feb 2013, 12:57 PM MST
- Elizabeth Alvarez
ALBUQUERQUE (KRQE) - A recent study claims the minimum wage hike will provide $105 million in higher wages providing a huge boost to the economy.
New Mexico Voices of Children did a study that claims the economy will improve because New Mexicans will have more money to spend.
Although some business groups say a higher minimum wage could cause more job losses. Still, social advocacy groups see the boost as a way to actually create jobs, they predict around 600.
The study also found an hourly wage of $9.25 is needed for a family of three to reach the Federal Poverty Line.
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