The Effect of Minimum Wage on PovertyReport as inadecuate

The Effect of Minimum Wage on Poverty

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Minimum wage is a topic gaining lots of attention by policymakers in Washington. Additionally, thepoverty rate in the U.S. is almost 15% with over 47 million Americans living in poverty. That said, wouldincreasing the minimum wage help to decrease the poverty rate? In this paper, we addressed that topic,developing a regression model looking at minimum wage, education level, labor force participation rate,and the cost of living and their impact on the poverty rate. Our results indicate that there is no statisticalsignificance between minimum wage and poverty rate and our other independent variables were allstatistically stronger than minimum wage.

Econometric Analysis Undergraduate Research Papers -

Author: Ramirez, Carlos - Pensa, Robert - Mogensen, Asgeir - -


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