As long as something decisive is done. Just limit the uncertainty and the market will adapt. No single move (aside from a MASSIVE rate increase by the Fed) can kill a recovery. In the short term the increased pay should increase consumer spending, which in turn should get some hiring going. This will likely be short lived, as inflation always catches up with a pay increase. Like it or not, we all shop at the company store. What hurts economies is FUD. Uncertainty is the worst. So, do this in an orderly fashion, make sure that some common sense is shown, and everyone knows what's due and when, and this will would work.