Blog: Let's Raise The Wage Already

Statement

By Secretary Tom Perez

It's been almost 8 years since Congress last raised the national minimum wage. This step is overdue. We've waited long enough.

In nearly two years as Labor Secretary, I've sat down with so many low-wage workers for whom every day involves struggle and sacrifice. For them, just a few more dollars an hour would mean a little more breathing room and peace of mind. Like the worker in Connecticut who has to choose between buying a gallon of milk or a gallon of gas. Like the bag handler from New Jersey who told me he can't afford even a small gift for his son's 16th birthday.

But it's not just workers who say raising the wage is needed. Many of the people who sign their paychecks are on board, too. They know that it's good for the bottom line. It means better customer service, less turnover and increased productivity. Raising the national minimum wage means a level playing field for those businesses already paying higher wages, more customers all around and a fair day's pay for all workers.

The President and I support these businesses and call on more to join them, just as we applaud the grass roots progress made by 17 states and cities around the country to raise their own minimum wages. But you shouldn't have to live in the right state or have the right boss in order to get a fair day's pay. We need to raise the national wage floor, and I join with the president in lending our full support to a new minimum wage bill introduced by Sen. Patty Murray and Rep. Bobby Scott that would benefit 38 million people.

After the worst economic crisis of our lifetimes, the wind is at our back again. We are creating jobs at an impressive clip -- more than 12 million new private-sector jobs over the last 61 months.

The question is: are we going to make sure our resurgent economy works for everyone, or will we allow only a few folks at the top to enjoy all the benefits? The president and I believe that America works best when prosperity is broadly shared. We believe the very best America is one that fields a full team.

But we're not quite there yet. Last year, Wall Street bonuses totaled $28.5 billion. That's more than twice as much, just in bonuses, than the earnings of 1 million full-time minimum wage workers. I don't think that's the best America we can be. I don't think it's consistent with the values of fair play and opportunity for all that we've always stood for.

Every morning when his feet hit the floor, the president is thinking about how he can increase wages for hard-working people. He first called for a national minimum wage increase in the 2013 State of the Union, and we renew that call again -- in the name of fundamental fairness, broad-based economic growth and shared prosperity. It's time to raise the wage.

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