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10 Reasons it’s Great that President Obama Supports a $10.10 Minimum Wage

It’s official.  President Obama, who has long supported a minimum wage increase, has come out in support of Senator Harkin’s (D-IA) and Representative Miller’s (D-CA) Fair Minimum Wage Act

Here are 10 reasons this great news for women and families:

  1. Women represent nearly two-thirds of minimum wage workers.
  2. Women of color are disproportionately represented among female minimum wage workers.
  3. One in four working mothers would get a raise if the minimum wage were increased to $10.10 per hour.
  4. More than three-quarters of women making minimum wage do not have a spouse’s income to rely on.
  5. Increasing the minimum wage would help close the wage gap.
  6. A woman working full time, year round at the current minimum wage earns just $14,500 annually, nearly $4,000 below the poverty line for a mother with two children.  If the minimum wage were $10.10 per hour, it would be enough to pull this family out of poverty.
  7. The bill raises the tipped minimum wage – which has been stuck at $2.13 for over 20 years – to 70 percent of the minimum wage.  Women are two-thirds of tipped workers.
  8. The minimum wage would be indexed for inflation – so it would maintain its value overtime.
  9. Increasing the wages paid to low-wage workers results in lower turnover, boosts worker efforts, and encourages employers to invest in their workers.
  10. This increase would generate more than $32 billion in additional economic activity and an estimated 140,000 jobs.