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Double edged sword, people will shy away or not buy as much if prices went up. Your revenue stream might remain similar.
Of course. But then people will shy away from long lines as well. Falling revenue is kind of a given in the situation where you're talking about laying off half the staff. The point is to maintain profitability as much as is possible with fewer customers since you won't have the workforce to handle all of them anyway.
So either pay goes up and benefits go down, pay goes up and more responsibilities fall on each employee and less are needed as a sum, or pay goes up and cost to the consumer goes up.
The plague of binary thinking is unabated! Businesses have to manage rising and falling input prices all the time. Monthly. Weekly. Daily. Rent, utilities, taxes, labor, the basic commodity inputs. It's always something. The prices of lettuce and orange juice are far more volatile that the minimum-wage, and don't even start with gasoline. Business owners are forever dealing with variable cost structures, and the changes are almost all simply absorbed into the existing model. Only as a last resort would prices or the number of employees be changed. Regular customers are sensitive to price changes and people have been hired because they are needed, not because they were on sale at Walmart.
Yes, but show me data that show a 50-75% increase in pay have the same small ripple effect that slow and calculated increases in prior minimum rate increases have had.
There aren't any such data because there has never been such an increase and there won't be one now. Obama has backed various proposals to ratchet up to a higher minimum wage, but the movement under way here is a broader protest against low wages in general and the widespread practice of pumping up profits by emptying the pay envelopes of employees and robbing from their benefits packages. In one sense, predatory employers are no different from predatory lenders -- in due time they bring about economic havoc. For those who still need the advisory, havoc is not a good thing.
Last edited by fairlaker; 12-07-2013 at 01:33 PM..
The plague of binary thinking is unabated! Businesses have to manage rising and falling input prices all the time. Monthly. Weekly. Daily. Rent, utilities, taxes, labor, the basic commodity inputs. It's always something. The prices of lettuce and orange juice are far more volatile that the minimum-wage, and don't even start with gasoline. Business owners are forever dealing with variable cost structures, and the changes are almost all simply absorbed into the existing model. Only as a last resort would prices or the number of employees be changed. Regular customers are sensitive to price changes and people have been hired because they are needed, not because they were on sale at Walmart.
Uh right. I guess that's why we don't own businesses.. oh wait, we do.
284 000 college grads worked min wage jobs last year...
And of those 284,000 who graduated college - how many of them really tried? And how many of them partied and just got through it to get through it?
A degree does not determine your salary... it gives you options for a better salary. The fact that they make min wage says a lot of what they chose to do with their degree.
Still does not change their financial worth to businesses and those that pay them.
There aren't any such data because there has never been such an increase and there won't be one now. Obama has backed various proposals to ratchet up to a higher minimum wage, but the movement under way here is a broader protest against low wages in general and the widespread practice of pumping up profits by emptying the pay envelopes of employees and robbing from their benefits packages. In one sense, predatory employers are no different from predatory lenders -- in due time they bring about economic havoc. For those who still need the advisory, havoc is not a good thing.
Exactly, there is NO data on such a large increase. ZERO data. So you can't use data points from studies that are of no relevance.
"Dad, my friend got a car for christmas. It's christmas, I want a car."
"But son, jack's dad makes 10x what I make."
"I don't care dad... it's christmas. I have data and I want to use it as I SEE FIT!!"
"But son..."
"No buts dad... it's CHRISTMAS!"
Last edited by pinipig523; 12-07-2013 at 01:54 PM..
The plague of binary thinking is unabated! Businesses have to manage rising and falling input prices all the time. Monthly. Weekly. Daily. Rent, utilities, taxes, labor, the basic commodity inputs. It's always something. The prices of lettuce and orange juice are far more volatile that the minimum-wage, and don't even start with gasoline. Business owners are forever dealing with variable cost structures, and the changes are almost all simply absorbed into the existing model. Only as a last resort would prices or the number of employees be changed. Regular customers are sensitive to price changes and people have been hired because they are needed, not because they were on sale at Walmart.
Yeah, and when the price of any input goes up, the business manages it in part by making do with LESS of that input. When you raise the cost of labor, less will be used. Law of economics, as inevitable as the laws of nature. You cannot wave a magic wand and increase the market value of employee labor.
Other posts talk about predatory employers. One cure: stop punching in there. But if that "predatory employer" is providing the best job you can find, guess what? You are being paid what you are worth. The answer is to become more valuable.
284 000 college grads worked min wage jobs last year...
How many of those students attended a decent college in their field? So many students go to colleges that don't even rank in the top 25, and expect unrealistic results. It throws off statistics.
How many of those students attended a decent college in their field? So many students go to colleges that don't even rank in the top 25, and expect unrealistic results. It throws off statistics.
BOOM!
Thumbs up for this statement.
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