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Economists: Minimum Wage Will Impact Local Businesses

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0  Updated at 12:08 pm, February 14th, 2013 By: News Idaho
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(IDAHO FALLS, ID)  — Make no mistake, President Obama’s call to raise minimum wage to $9 an hour will have a major impact on local businesses. Experts say it’s difficult, especially for small businesses to pay $9 an hour for entry-level jobs. In order to keep up, many retailers and restaurants will raise their prices 10 to 20 percent or be forced to cut back on new employees. The current federal minimum wage is $7.25.