Is the proposed minimum wage hike good for the California Economy? (house, calculator)

[Gentoo]

Originally Posted by Zelva

Maybe look a little beyond the nose......
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The unemployment rate in San Francisco increased to 5.9% during July from its June rate 5.7%. San Francisco, Marin, and Solano continue to maintain the lowest unemployment rates statewide. Marin County once again continues to lead the state for lowest countrywide unemployment rates (5.3%) while Solano holds the highest at (8.5%). Some high rates to mention are: Imperial (26.1%), Merced (14.6). More densely labor concentrated counties: San Diego (7.8), Los Angeles (10.8).

Bay Area Unadjusted Unemployment Rates, July 2013 - SFCED | San Francisco Center for Economic Development

The Bay Area has the tech industry which is always up and down. It also has Solano County which always has a high unemployment rate. Imperial County's EU rate is abysmal even in good times.

[Mashi]

Originally Posted by Ceece

Given the cost of everything these days, especially in high COL areas, I have to wonder about the businesses like Jack in the Box which is certainly NOT your little "mom and pop shop" but a wealthy national chain. If they CAN'T provide a certain pay grade to get and keep good employees they probably aren't as good a business as they claim, they are just profiting off the backs of the workers on the front line. If that's the only way they can be successful then maybe they should end it all. Seriously. But you know what? They won't. There is plenty of money at the top tiers, it's just that nobody wants to let that go if they don't have to. And if they REALLY have to raise the cost of a Jumbo Jack meal by .50 then let them do it. Again, if it doesn't survive they aren't the good business they think they are.

Great logic. Why stop there? Raise the burger flippers' wages to CEO levels. If JITB can't handle it, they probably "aren't the good business they think they are." Because profit margins mean nothing when money grows on trees. Toyota should also double their employees wages and charge $50,000 for a Corolla. They should be able to pull that off, assuming they're as good a business as they think they are. Everything's possible in looney tunes fairy tale land!

[eureka1]

It's really very simple. When you put more money in people's pockets they spend it and the rising tide lifts all boats. Very proud of the fact that California will now ensure a living wage for all.

[Zelva]

A strong economy increases jobs and wages.... CA should check out North Dakota..... just sayin'

• The local McDonald’s can’t find enough workers so it’s offering $15 an hour and signing bonuses of $300.

• North Dakota now has a billion-dollar budget surplus. The economic impact of oil production to the state’s economy is estimated at $34.4 billion.

• The number of taxpayers reporting adjusted gross income of more than $1 million in North Dakota has nearly tripled

• Over six new housing units are being built in Williston every day, with 2,000 to 3,000 being built every year, but they still can’t keep up.

- See more at: 11 Shocking Facts about the North Dakota Oil Boom | The Fiscal Times

[WeakandDizzy]

Originally Posted by Zelva

A strong economy increases jobs and wages.... CA should check out North Dakota..... just sayin'

• The local McDonald’s can’t find enough workers so it’s offering $15 an hour and signing bonuses of $300.

I think they call that the law of supply and demand. It has nothing to do with the minimum wage.

• North Dakota now has a billion-dollar budget surplus. The economic impact of oil production to the state’s economy is estimated at $34.4 billion.

Perhaps some limited development of the Monterey Shale deposits would result in a similar economic impact on the state of California.

• The number of taxpayers reporting adjusted gross income of more than $1 million in North Dakota has nearly tripled

Of course they have tripled, there were very few to start with.

• Over six new housing units are being built in Williston every day, with 2,000 to 3,000 being built every year, but they still can’t keep up.

Again, workers are flooding in to the state because there is work, NOT because they have a high minimum wage. The law of supply and demand.

- See more at: 11 Shocking Facts about the North Dakota Oil Boom | The Fiscal Times

No one debates the North Dakota economy is booming, the question on the table is will increasing the minimum wage help the California economy.

[armourereric]

Don't forget that the same ND McD's is charging $300 a week for a bed space in the Attick

[Curmudgeon]

In direct response to the original question, has anything coming out of the Legislature been lately?

[WeakandDizzy]

Originally Posted by Curmudgeon

In direct response to the original question, has anything coming out of the Legislature been lately?

Rather socratic of you , don't you think?

[mysticaltyger]

Originally Posted by Ceece

Given the cost of everything these days, especially in high COL areas, I have to wonder about the businesses like Jack in the Box which is certainly NOT your little "mom and pop shop" but a wealthy national chain. If they CAN'T provide a certain pay grade to get and keep good employees they probably aren't as good a business as they claim, they are just profiting off the backs of the workers on the front line. If that's the only way they can be successful then maybe they should end it all. Seriously. But you know what? They won't. There is plenty of money at the top tiers, it's just that nobody wants to let that go if they don't have to. And if they REALLY have to raise the cost of a Jumbo Jack meal by .50 then let them do it. Again, if it doesn't survive they aren't the good business they think they are.

What you fail to take into account is the fact that places like Jack in the Box are FRANCHISES, owned by individual business owners who pay hefty franchise fees. The individual owners are the ones who take it on the chin, not the franchise itself.

[mysticaltyger]

Originally Posted by Zelva

If one wants to help minimum wage workers (and all Californians), fuel and energy prices would be a good ATB start (for both business and workers).

Actually, what would REALLY help low wage earners would be AN INCREASE IN THE HOUSING SUPPLY. Restrictive land use laws are what keep supply low and home prices & rents high. That has a huge effect on the biggest item on most people's budgets. It also has a ripple effect on the cost of all other goods & services as well.

Building more housing would also be good for our economy as it would provide more employment.