weather economic shocks, such as the federal immigration crackdown that forced many to temporarily close this winter.
The Federal Reserve Bank of Minneapolis, which has studied the effects of the $15 minimum wage in Minneapolis since 2018, recently reported minimum wage policies have resulted in higher hourly pay but fewer available hours and positions. That has meant lower earnings: Between 2017 and 2021, the average decline in wage earnings across all industries was 1% in Minneapolis and about 2% in St. Paul. The research controlled for the effects of the COVID-19 pandemic and unrest after George Floyd’s murder in 2020.
