Pack of Economists Call for Minimum Wage Increase

75 send letter to the president

Dozens of economists are supporting an effort to raise the federal minimum wage.

In a letter to President Obama and key U.S. lawmakers, 75 economists said they support a plan to raise the federal minimum wage from $7.25 to $10.10 an hour by 2016.

"The vast majority of employees who would benefit are adults in working families, disproportionately women, who work at least 20 hours a week and depend on these earnings to make ends meet," the letter said. "At a time when persistent high unemployment is putting enormous downward pressure on wages, such a minimum-wage increase would provide a much-needed boost to the earnings of low-wage workers."