Federal $25 minimum could eliminate 5M jobs

A proposed federal $25 minimum wage would lead to significant job losses nationwide, particularly impacting states with large populations such as Texas, Florida, and Ohio. An economist warns that nearly 5 million jobs could be eliminated, especially in the restaurant and hospitality sectors, as businesses struggle to absorb higher labor costs. The initiative is backed by progressive lawmakers and advocacy groups aiming to raise wages to address the cost of living but faces criticism from economists and business interests concerned about inflation and employment reductions.

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