Impact of minimum wage to be examined
Article by May 4, 2021
Central Bank economists are yet to begin an assessment of the impact of Government’s mandated national minimum wage which became effective April 1.
But Central Bank Governor Cleviston Haynes said if there is one thing he was sure about is that the increased wages will benefit those at the bottom and should increase the spending of these low-income workers.
Speaking at his first quarterly economic review for 2021, Haynes said the question of raising the minimum wage was a complex one as there were still divided views on the subject, and even more so about the timing of its introduction.
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