This is why—despite what your econ 101 models might lead you to believe—modern, data-driven economic research suggests that increases in the minimum wage almost always lead to increased GDP. Worth noting that there's also many other effects that may contribute to this observed impact[2]
[0] https://www.epi.org/publication/bp357-federal-minimum-wage-i...
[1] https://www.nber.org/system/files/working_papers/w25761/w257...
This is why—despite what your econ 101 models might lead you to believe—modern, data-driven economic research suggests that increases in the minimum wage almost always lead to increased GDP. Worth noting that there's also many other effects that may contribute to this observed impact[2]
[2] https://www.piie.com/blogs/realtime-economic-issues-watch/hi...