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Minimum Wage Hike May Cause Job Loss In Some Sectors
Written by Blake Hodge   
Wednesday, 12 March 2014 16:29

RALEIGH -- President Barack Obama is touring the country promoting a minimum wage hike to $10.10 an hour, saying the pay bump would bring thousands out of poverty and induce more spending. But a recent survey of Chief Financial Officers from Duke's Fuqua School of Business says many small business won't be able to afford that bump, according to Duke University Finance Professor - John Graham.

Graham said, "CFO's could probably handle a minimum wage hike to, maybe, $8.50 an hour. But if the minimum wage was hiked all the way up to $10 an hour, then in certain key sectors we would see a lot of job loss."

Graham added that retail, services, and manufacturing would all be fields that could be hit due to an increased minimum wage.

Last Updated on Wednesday, 12 March 2014 16:34
 
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