How the increase in minimum wage will affect Arizona workers, businesses

The rise in the minimum wage has been debated in the Valley and around the country with some arguing that it hurts small businesses and others arguing that it's essential for workers at the bottom to make ends meet.

Lee McPheters, a research professor of economics, weighs in on how the newest increase in minimum wage could either help or hurt Arizona businesses in 2021.

In this story published Jan. 8, 2021, in KJZZ:

We're looking at about one out of four of Arizona's small businesses will be closed by the time the data is in for 2020. Small businesses are definitely hurting.

– Research Professor of Economics Lee McPheters