Ohio’s minimum wage

The current minimum wage in Ohio is $10.45 for non-tipped workers and $5.25 for tipped. Senate Bill 256, which is currently in commitee, looks to raise that to $15 for non-tipped workers and $7.50 for tipped by 2028.

We know that there are many benefits to higher wages, but policymakers are particularly concerned about what the costs of raising the minimum wage might be. Specifically, whether or not it will lead to an increase in unemployment.

Further, what would the unemployment impact be of an even higher minimum wage? Your assignment is to make a quantitative estimate for the number of Ohioans that will become unemployed if the minimum wage was raised to $17 per hour.

Your reasoning and conclusion should be written up in a memo of less than 300 words and emailed to Michael Hartnett at michael@sciotoanalysis.com by 5:00pm on Thursday, August 8th.

There is no definitive “right” answer to this question, though there are better and worse answers. Our goal, however, is to see your strategy for answering a question and your ability to gather information, analyze it critically, and present it concisely. We look forward to reviewing your work.