The latest Duke University/CFO Global Business Outlook survey concerned the minimum wage, with nearly 75% of minimum-wage paying firms in the United States saying they would reduce current or future employment if the minimum wage is raised to $15 per hour.
At a $15 minimum wage, 41% would lay off current employees, while 66% would slow future hiring. Also, 66% of affected firms would reduce employee benefits at a $15 wage, and 49% would raise prices.
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At a $10 minimum wage, about 20% say they would lay off current workers, 44% would slow future hiring, 20% would reduce employee benefits, and 43% say they would raise their prices.
The survey has been conducted each quarter for the last 20 years, making it the world’s longest-running and most comprehensive research on senior finance executives.