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IMPACT OF RAISING THE MINIMUM WAGE IN SOUTH DAKOTA. A STUDY OF THE IMPACT
OF RAISING THE MINIMUM WAGE IN SOUTH DAKOTA: 2007 UPDATE ...
Submitted by gajendrabs on May 5, 2008
Category: Miscellaneous
Words: 6310 | Pages: 26
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A STUDY OF THE IMPACT OF RAISING THE
MINIMUM WAGE IN SOUTH DAKOTA: 2007 UPDATE
INTRODUCTION
This report represents an update of a report prepared for Governor Michael Rounds in January 2006. At that time, Governor Rounds had proposed an increase in the minimum wage in South Dakota from $5.15 per hour to $6.00 per hour starting July 1, 2006. That bill did not pass the Legislature. This year, 2007, Governor Rounds has proposed an increase in the minimum wage that would mirror the minimum wage bill that passed the U.S. House of Representatives in January of 2007. This minimum wage bill would increase the current minimum wage of $5.15 per hour to $7.25 per hour in three seventy cent increments. The first increase would be to $5.85 per hour within 60 days of the enactment of the bill, to $6.55 per hour one year later (2008), and to $7.25 per hour one year later (2009).
The current minimum wage in South Dakota is $5.15 per hour and has been at this level since 1997. Prices increased by 26 percent between 1997 and 2006, and this reduced the real minimum wage to $4.10 in 2006 purchasing power. Governor Rounds’ new proposal would raise the South Dakota minimum wage from $5.15 per hour to $7.25 per hour following the Federal law timetable.
An increase in the minimum wage is often controversial with both sides providing
arguments supporting their position.
Proponents argue that a higher minimum wage will:
1. directly benefit low-wage workers by increasing their income,
2. reduce poverty,
3. stimulate the economy by increasing the purchasing power of low-wage
workers,
4. provide greater equity and fairness.
Opponents of a higher minimum wage argue that it will:
1. reduce employment by pricing some low-skill workers out of the labor market,
2. raise barriers to people with little or no work experience to find the initial job that would provide...
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