In support of a higher minimum wage: A report from the National Employment Law Project

Key findings in the report:

• The majority of America’s lowest‐paid workers are employed by large corporations, not small businesses, and most of the largest low‐wage employers have recovered from the recession and are in a strong financial position.
• Federal minimum wage of $7.25 per hour is decades out of date.  In terms of purchasing power, its value is 30 percent lower today than it was in 1968.
• The Bureau of Labor Statistics estimates that 7 out of the top 10 top growth occupations over the next decade are low‐wage ones.
• From 2010-2012, total U.S. employment has grown by 2.3%, whereas low-wage food service jobs have grown by 5.1%.
• The three largest low‐wage employers in the United States – Wal‐Mart, Yum! Brands (the operator of fast food chains Pizza Hut, Taco Bell, and KFC), and McDonald’s – were profitable during all of the last three fiscal years, and each of them now earns profits that are substantially higher than their pre‐recession levels.

Big Business, Corporate Profits, and the Minimum Wage (PDF)