How much will President Obama's 2013 State of the Union proposal to increase the federal minimum wage to $9.00 per hour affect the teens and young adults who make up roughly half of all those who earn the minimum wage or less in the United States?
We've been dancing around that question as we've been considering the recent history of minimum wage increases in recent weeks, but today, we're finally going to answer it!
Or rather, you are, because we've built a tool that you can use to do the math for yourself! Here, you just need to enter either President Obama's or your own proposed minimum wage (ideally in terms of constant 2011 U.S. dollars), and our tool will do the rest!
Here is the demand curve (read the post for a description of how it is estimated):