This report consists of two chapters addressing potential reforms for tipped minimum wage in the City of Chicago. The Chicago Department of Business Affairs and Consumer Protection sought the assistance of the University of Illinois and the University of Chicago in conducting a study required by the Chicago City Council that examines the economic impact […]
Chicago is considering increasing its minimum wage to $15 per hour by 2021, four years earlier than the rest of Illinois. Polls suggest that four-in-five Chicago residents support a $15 minimum wage. By raising the minimum wage to $15 per hour by 2021, the City of Chicago can grow the economy, reduce income inequality, reduce […]
The last time that Illinois increased its minimum wage was in July 2010. A total of 13 states now have minimum wages of $10 per hour or higher, and four have enacted legislation to gradually raise the minimum wage to $15 per hour. Recent research shows that raising the minimum wage boosts worker incomes while […]
The last time that Illinois increased its minimum wage was in July 2010. If Illinois’ minimum wage had been indexed to inflation since then, it would be nearly $10 per hour today. 13 states now have minimum wages of $10 per hour or higher, and 9 of these states have unemployment rates that are lower […]
On December 2, 2014, the Chicago City Council voted 44 to 5 in favor of gradually raising the minimum wage to $13.00 per hour in the city to increase earnings for 410,000 Chicago workers. This report finds that in its first two years– when the minimum wage increased to $10.00 an hour and subsequently to […]
Higher earnings for Illinois workers resulting from a minimum wage increase stand to have impacts on their ability to sustain families and cover expenses. The greatest impact, however, might be in housing affordability. Housing costs, whether in the form of rent or mortgage payments and maintenance costs, make up the largest monthly expense for most […]
The Impact of Raising Illinois’ Minimum Wage to $10.00: A 21.2-percent minimum wage hike in Illinois would Increase labor income by $1.9 to $2.3 billion for intended beneficiaries and by $5.4 to $7.2 billion for all workers; Cause either a small drop or small gain in employment (between -70,000 and 32,000 jobs); Have no impact […]