Study Contends Minimum Wage Purchasing Power Eroded MITECHNEWS.COM reports on a new study by the Michigan League for Human Services contending that Michigan's minimum wage of $5.15 an hour is effectively worth the same ($4.25) as it was before the wage was last increased in 1997. According to the study, the minimum wage pays for less effectively than any other year except 1955, and is 32% less in real terms than the minimum wage paid in 1968. On an inflation-adjusted basis, the study said, the minimum wage paid in 1968 would be the equivalent of $7.54/hr today. The Michigan Chamber of Commerce contends that boosting the minimum wage could result in as much as an 18% drop in jobs. Read Michigan Minimum Wage Has Buying Power Of 1997 Dollar - New Study from MITECHNEWS.COM Posted/updated Dec 20, 2005 by Andrew McFarlane (Absolute Michigan) click to Send This Story to a Friend! Main Michigan News Page Go Back One Page

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