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Obama says higher minimum wage is ‘good for business’

Obama cited companies such as Costco Wholesale Corp. and Gap Inc. as he pressed lawmakers again to raise the U.S. minimum hourly wage to $10.10 from $7.25.

By Margaret Talev and Victoria Stilwell | Updated on March 05, 2014

March 5 (Bloomberg) — President Barack Obama said the success of companies that are paying lower-level employees more than the federal minimum wage stands as a rebuttal to arguments that raising the U.S. standard would cost jobs.

Obama cited companies such as Costco Wholesale Corp. and Gap Inc. as he pressed lawmakers again to raise the U.S. minimum hourly wage to $10.10 from $7.25. His campaign has hit Republican opposition in Congress, and he’s using a monthlong delay of a Senate vote to generate public support.

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