Cost-Containment

Even before it comes to a vote, retailers like Gap Inc. and Wal-Mart Stores Inc. are weighing the benefits of a proposed increase in the minimum wage.

The owner of Old Navy, Banana Republic and its namesake apparel chain will raise its hourly pay for U.S. employees to $9 in 2014 and $10 the following year.

Many are being conservative about their 2014 growth plans, with just about a quarter planning a new office this year compared to nearly half last year.

The CBO says some workers may be lifted out of poverty but job losses would also be part of the picture.

Raising the minimum wage is not an effective tool against poverty.

Americans are holding multiple jobs to earn extra income in a still-erratic labor market, supplement wages that are essentially flat or seek to get paid for time they spend on hobbies or interests anyway.