What I can tell you about that is that of the 26,200 employees who will benefit from this change, roughly 4,000 work in businesses employing 20 or fewer people and so in fairly small businesses, and another 4,400 work in businesses that employ 20 to 99 employees—still fairly small—and then 3,500 work in businesses that employ 100 to 500 employees. The majority, however, work in large businesses that employ 500 or more employees, to the tune of 14,200 of them. These make up 54% of the employees who will benefit.
There will be a cost. While there will be an impact in terms of impacted employees, the bulk work for the larger employers.
The same profile applies when it comes to cost. I can say, though, that the total cost we expect employers to pay in the additional wages to bring these 26,200 employees up to $15 is about $44.1 million for the first year, which is 0.1% of annual federally regulated private sector payroll.