New Study Documents Adverse Impacts of
Raising Minimum Wage In Maryland
At a press conference this morning, the results of a new study on minimum wage prepared by economist Stephen S. Fuller, Ph.D., George Mason University, were released by the Maryland Foundation for Research & Economic Education.
Over ten bills have been introduced in the Maryland General Assembly this session and will receive hearings in the House and Senate this week.
In an extensive research report, Fuller concludes that raising the minimum wage in Maryland would:
1. increase the price of consumer goods;
2. reduce employment and personal income;
3. weaken the state's competitive position relative to adjacent states having lower labor costs;
4. slow the growth of gross state product; and
5. slow population growth and weaken real estate values.
The full report has been posted on the WBAL-TV website (Click Here).