They say that money can’t buy happiness, but we’ve always begged to differ. Now, science is finally backing us up.
A recent study reports that the increase of the minimum wage salary could improve the mental health of those getting paid at that rate.
Dating back to the mid ’90s in the U.K., researchers gathered information to identify if there was any correlation between pay rate and state of mind.
The study found that when the U.K.’s minimum wage went into effect in 1999, the mental health of those who received a “raise” scored higher on a survey to gauge their mental health. Those who didn’t get receive more from the minimum wage raise didn’t cite any increase or decrease in their mindframe.
Researchers concluded that the increase of wages had a likely positive affect because it “reduced depression and alleviated financial strain among low-paid workers.”
With the news of the U.K.’s recent new living wage change, states in the U.S. are still fighting to make $15 the minimum wage for most businesses.
Just weeks ago, California and New York became the first states to pass laws mandating that the statewide pay minimum reach $15 over the next few years. According to the National Employment Law Project, cities in Washington state and California signed off on federal referendums approving a wage increase.