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The Federal Minimum Wage is set to increase 70 cents today bringing the mandated hourly pay rate to a whopping $6.55 per hour. Today’s minimum wage raise is the second of three annual increases set forth by Congress after a decade of no such action. With the U.S. economy in a fragile state, diverging views are emerging over the pay raise. The Employment Policy Institute released data that they say shows a wage increase now will cause job losses for vulnerable groups such as teenagers and adults without a high school diploma. The U.C. Berkeley Labor Center released new research that refuted such claims by stating that findings showed beneficial wage increases for the lowest paid workers have no such negative effectives on employment. Nevertheless, a 70 cent wage increase may be too little, too late when factored in with cost of living expenses. The current $6.55 hourly wage is still lower than in 1997 and significantly lower than in 1968 in terms of purchasing power. Let Justice Roll, a faith and community voices campaign, is calling for a $10 per hour living wage by 2010. They contend that when the third scheduled minimum wage increase takes place in 2009, the federal hourly pay of $7.25 an hour will still be insufficient to have adequate living standards.

GUEST: Holly Sklar, co-author of the report, “A Just Minimum Wage: Good for Workers, Business, and Our Future,” and the book, “Raise the Floor: Wages and Policies that Work for All of Us,” Senior Policy adviser for the Let Justice Roll Living Wage Campaign. For more information, visit www.letjusticeroll.org.