Republicans opposed to a minimum wage hike got more fodder for their case Tuesday when the Congressional Budget Office released a report stating that a $10.10 minimum wage could cost the economy about 500,000 jobs. But some economists say that estimate may be overblown, and at least three whose research was cited in the report are now questioning that figure.
In a blog published by ThinkProgress on Thursday, Michael Reich, director of University of California-Berkeley's Institute for Research on Labor, argues that the CBO doesn't clearly explain how it came up with the 500,000 estimate. In his reading, it seems the budget analysts relied too heavily on studies "with methodological flaws" that found a higher minimum wage to be a job killer.
"They rely on the research literature, and the way they rely on the research literature is they say, 'Well, there are all these estimates out there' and then they somehow synthesize those estimates to one number," Reich told HuffPost. "In my view, they used numbers that were too high, based on what the research actually says."
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