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Article Artículo

United States

Workers

The Tipped Minimum Wage Hasn’t Risen Since 1991

In April 1991, the federal minimum wage was raised from $3.80 to $4.25 per hour. The federal tipped minimum wage, which had traditionally been set to half the normal minimum wage, was raised to $2.13. The tipped minimum wage sets a wage floor for all workers who receive tips as part of their compensation; most of these workers are in the food service industry, which employs 60 percent of the nation’s tipped workers.

CEPR and Nicolas Buffie / July 17, 2015

Article Artículo

Economic Growth

Globalization and Trade

IMF

Paper from IMF Shows That Recovery Is Far from Complete

Researchers at the International Monetary Fund (IMF) released a paper earlier this year on the decrease in labor force participation since 2007. They conclude that although structural components have played a role in the decline, there is a large cyclical component present as well, meaning that labor force participation can still recover significantly without risking accelerating inflation. While we can quibble with some of their exact numbers—they argue that up to 43 percent of the drop in participation rates between 2007 and 2013 can be attributed to cyclical effects, while I’d argue that it’s a bit higher—their more general findings are surely correct.

CEPR and Nicolas Buffie / July 16, 2015