From the Institute for Research on Labor and Employment:

“Our results indicate that a $15 statewide minimum wage would generate a 23.4 percent average wage increase for 3.16 million workers in the state. This improvement in living standards would greatly outweigh the small effect on employment. And the increase in wages would help reverse decades of wage declines for low-paid workers. How can such a major improvement in living standards occur without adverse employment effects? While a higher minimum wage induces some automation, as well as increased worker productivity and higher prices, it simultaneously increases worker purchasing power. In the end, the costs of the minimum wage will be borne by turnover reductions, productivity increases and modest price increases.”

 

Full report available here