Study: Dems’ $15 Wage Would Kill 7 Million Jobs

Democratic delegates approved a party platform backing the $15 minimum wage on Monday. The proposed rate hike follows a multi-million dollar campaign by the politically influential Service Employees International Union.

It would more than double the federal minimum of $7.25 and effectively raise labor costs to more than $18 an hour per employee, after payroll taxes and other mandates. The move would force employers to seek offsets, which could hurt the prospects of workers, particularly inexperienced and low-skilled ones.