THE HILL — Regulations proposed this week to lift the minimum wage for federal contractors will cost employers and taxpayers an estimated $100 million next year and just over $500 million by 2019, according to the Obama administration.
A Labor Department analysis of the rule’s economic impact, however, concludes that the increased expense will be offset by a range of benefits, including reduced absenteeism, improved worker morale and productivity, reduced supervisory costs and better government services.
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