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Higher wages benefit business by increasing consumer purchasing power, reducing costly employee turnover, raising productivity, and improving product quality, customer satisfaction and company reputation. Today's minimum wage workers have less buying power than minimum wage workers had half a century ago. We cannot build a strong 21st century economy when more and more hardworking Americans struggle to make ends meet.
The federal minimum wage is finally increasing on July 24 for the first time in nearly eleven years. Yet, there are no shortage of business groups who opposed the increase and claim, "It's bad for business." Please join me in saying a raise for those at the bottom won't hurt the bottom line. In fact, states that have raised their minimum wages above the stagnant $5.15 level have had better business trends than the other states.
I joined with more than 650 business owners and executives to sign a statement supporting an increase in the minimum wage. Other leaders supporting the increase include Costco CEO Jim Sinegal and apparel industry leader Eileen Fisher. Our support made a difference in Congress.
Now, we need your help to grow our signatories list to more than 1,000 business people before July 24 to get our positive message in the media and all around the country. Whether you are in a state with a $5.15 minimum wage or a state with a higher minimum wage, please join us by adding your name today!
Please go to Business for a Fair Minimum Wage and add your name to this important statement to strengthen business support for a higher minimum wage.