[Disclosure: The Minneapolis Federal Reserve Bank commissioned me to review a draft of the studies cited above, which I provided on October 15, 2021. The studies released on November 1, 2021 were revised considerably from the draft that I previously reviewed. My comments here refer only to the final versions. I refer to these– using the authors’ initials– as KLN.]
The City of Minneapolis instituted a city-wide minimum wage that reached $10. on January 1, 2018, and $11.25 on July 1, 2018. It was then raised to $12.25 on July 1, 2019, and to $13.25 on July 1, 2020. These minimum wage levels apply to firms with 100 or more employees; a longer phase-in applies to smaller firms. The nearby City of St. Paul also instituted a citywide minimum wage, which first went into effect in 2020. Most of my comments focus on KLN’s Minneapolis report.
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