On July 24, the second of three federal minimum wage increases went into effect, bringing the minimum wage up to $6.55 per hour for thousands of North Carolinians.

The increase comes at a timely moment as economists widely agree that raising the minimum wage is one of the best strategies for boosting economic growth during an economic downturn. Workers get more money in their pockets to spend at the fuel pumps and in the grocery stores and that, in turn, helps businesses maintain demand. And there's a spillover effect — an increased minimum wage means that workers earning more than the minimum wage see their paychecks increase, too. (more…)