Business Insider

The study, which comes from the UC Berkeley Labor Center, found that the country’s current low minimum wage costs taxpayers more than $100 billion a year. That’s because nearly half of the working families who would benefit from the pay bump rely on at least one safety net program, such as SNAP or Medicaid.

Dr. Rhee’s data shows that workers of color are behind on saving for retirement — 38% of Black households and 31% of Latino households have some assets in a retirement account, compared to 63% of white households.

The study, which comes from the UC Berkeley Labor Center, found that the country’s current low minimum wage costs taxpayers more than $100 billion a year. That’s because nearly half of the working families who would benefit from the pay bump rely on at least one safety net program, such as SNAP or Medicaid.

Dr. Rhee’s data shows that workers of color are behind on saving for retirement — 38% of Black households and 31% of Latino households have some assets in a retirement account, compared to 63% of white households.