A 2022 New Year’s gift for many workers? An increased minimum wage

At the start of 2022, more than 50 jurisdictions are slated to raise their minimum wage rates, many to $15 an hour or more. Despite widespread support for increased minimum wages and years-long activism, efforts to boost the minimum wage at the federal level have largely stalled. But even as many employers independently raise pay amid a tight labor market, inflation continues to chip away at the gains made by many workers. Also on today’s program: A look back at the week, what consumer spending looks like amid the arrival of omicron, how the surge in electric vehicle demand impacts the Democratic Republic of the Congo and a festive take on The Numbers.