I didn't watch the speech, but apparently the minimum wage came up. My first thought was "I'm not sure I've seen a real value chart since the last hike - I wonder what it's at". Presumably some of you had the same thought, so here it is from the National Employment Law Project:
Color me unimpressed.
There are alarmists on both sides of this issue. I'm not a minimum wage alarmist. It seems like a blunt instrument, but not a terrible idea, and it appears to have far more modest consequences than a lot of people would have you think. But it certainly shouldn't be on the short list of policy priorities to push during the State of the Union right now. How about we talk more about this graph: