{"id":455496,"date":"2021-03-11T05:03:28","date_gmt":"2021-03-11T10:03:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=455496"},"modified":"2021-03-11T05:03:28","modified_gmt":"2021-03-11T10:03:28","slug":"fraser-institute-news-release-only-1-of-minimum-wage-earners-work-more-than-five-years-at-minimum-wage","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fraser-institute-news-release-only-1-of-minimum-wage-earners-work-more-than-five-years-at-minimum-wage\/","title":{"rendered":"Fraser Institute News Release: Only 1% of minimum wage earners work more than five years at minimum wage"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">TORONTO, March  11, 2021  (GLOBE NEWSWIRE) &#8212; Despite claims to the contrary, minimum wage increases do little to lower poverty rates and can actually hurt low-income workers, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.<\/p>\n<p align=\"left\">\u201cAs an anti-poverty tool, minimum wage hikes are largely ineffective and can actually hurt the very people they\u2019re supposed to help,\u201d said Philip Cross, senior fellow at the Fraser Institute and author of <a href=\"https:\/\/www.fraserinstitute.org\/studies\/minimum-wage-lost-jobs-and-poverty-in-canada?utm_source=Media-Releases&amp;utm_campaign=Minimum-Wage-Lost-Jobs-and-Poverty-in-Canada&amp;utm_medium=Media&amp;utm_content=Learn_More&amp;utm_term=550\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><strong><em>The Minimum Wage, Lost Jobs, and Poverty in Canada<\/em><\/strong><\/a>.<\/p>\n<p align=\"left\">In recent years, all 10 provinces raised the minimum wage for workers\u2014despite the realities of minimum wage policy. For example:<\/p>\n<ul>\n<li>Very few minimum wage earners (slightly more than one per cent) work for more than five years at the minimum wage.<\/li>\n<li>Minimum wage increases can increase unemployment because businesses often respond by laying off workers, reducing work hours and\/or hiring less (or not at all). For example, after examining Ontario\u2019s proposed 32 per cent minimum wage hike in 2018 and 2019, the province\u2019s Financial Accountability Office estimated employment would fall by 50,000 jobs.<\/li>\n<li>Minimum wage increases have little impact on poverty rates because most people who receive the minimum wage live in households that already earn higher incomes (i.e. the majority of minimum wage earners are young people living with their parents).<\/li>\n<\/ul>\n<p align=\"left\">\u201cIf governments want to help low-skilled workers and people entering the workforce, they should implement policies, such as competitive tax rates, which help businesses grow and create opportunities for Canadians,\u201d Cross said.<\/p>\n<p align=\"left\">\n        <strong>MEDIA CONTACT<\/strong>:<\/p>\n<p align=\"left\">Philip Cross, Senior Fellow<br \/>Fraser Institute<\/p>\n<p align=\"left\">\n        <em>To arrange media interviews or for more information, please contact:<\/em><br \/>\n        <br \/>Mark Hasiuk, Senior Media Relations Specialist, Fraser Institute<br \/>604-688-0221 ext. 517<br \/><a href=\"mailto:mark.hasiuk@fraserinstitute.org\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">mark.hasiuk@fraserinstitute.org<\/a><\/p>\n<p align=\"center\">\n        <a href=\"http:\/\/www.twitter.com\/FraserInstitute\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Follow the Fraser Institute on<strong> Twitter<\/strong><\/a><br \/>\n        <strong> | <\/strong><br \/>\n        <a href=\"http:\/\/www.facebook.com\/FraserInstitute\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Like us on<strong> Facebook<\/strong><\/a>\n      <\/p>\n<p align=\"left\">The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of think-tanks in 87 countries. Its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being. To protect the Institute\u2019s independence, it does not accept grants from governments or contracts for research. Visit <a href=\"http:\/\/www.fraserinstitute.org\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.fraserinstitute.org<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4Nzg2MSM0MDU4MDY0IzIwOTM5NjQ=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/5308f02b-5710-4a1b-ab1d-d6c5520d91b5\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>TORONTO, March 11, 2021 (GLOBE NEWSWIRE) &#8212; Despite claims to the contrary, minimum wage increases do little to lower poverty rates and can actually hurt low-income workers, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. \u201cAs an anti-poverty tool, minimum wage hikes are largely ineffective and can actually hurt the very people they\u2019re supposed to help,\u201d said Philip Cross, senior fellow at the Fraser Institute and author of The Minimum Wage, Lost Jobs, and Poverty in Canada. In recent years, all 10 provinces raised the minimum wage for workers\u2014despite the realities of minimum wage policy. For example: Very few minimum wage earners (slightly more than one per cent) work for more &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fraser-institute-news-release-only-1-of-minimum-wage-earners-work-more-than-five-years-at-minimum-wage\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Fraser Institute News Release: Only 1% of minimum wage earners work more than five years at minimum wage&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-455496","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fraser Institute News Release: Only 1% of minimum wage earners work more than five years at minimum wage - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fraser-institute-news-release-only-1-of-minimum-wage-earners-work-more-than-five-years-at-minimum-wage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fraser Institute News Release: Only 1% of minimum wage earners work more than five years at minimum wage - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TORONTO, March 11, 2021 (GLOBE NEWSWIRE) &#8212; Despite claims to the contrary, minimum wage increases do little to lower poverty rates and can actually hurt low-income workers, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. \u201cAs an anti-poverty tool, minimum wage hikes are largely ineffective and can actually hurt the very people they\u2019re supposed to help,\u201d said Philip Cross, senior fellow at the Fraser Institute and author of The Minimum Wage, Lost Jobs, and Poverty in Canada. In recent years, all 10 provinces raised the minimum wage for workers\u2014despite the realities of minimum wage policy. 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