At the National Bureau of Economic Research David Neumark and Peter Shirley weigh in on increasing the national minimum wage to $15:
Our key conclusions are: (i) there is a clear preponderance of negative estimates in the literature; (ii) this evidence is stronger for teens and young adults as well as the less-educated; (iii) the evidence from studies of directly-affected workers points even more strongly to negative employment effects; and (iv) the evidence from studies of low-wage industries is less one-sided.
That comports with the recent findings of the Congressional Budget Office which found that while raising the minimum wage to $15/hour would raise 1 million people out of poverty it would throw another 1.5 people out of work.
I believe the reasonable conclusion is that imposing a national $15 minimum wage is a triumph of politics over policy—part of a grab bag of progressive policies which sound good but will actually have adverse consequences.
As I have contended for years the strategy for increasing American wages should be restricting immigration, reining in on globalization, and encouraging the formation of jobs that are worth paying people more for doing.