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So? If any minimum wage leads to more unemployment, then countries with higher minimum wage laws should have higher unemployment rates. That's not the case.
Not necessarily, the impact of min wage depends on local labor markets. If the market is already paying more than min wage then raising the min wage won't impact the market, but if any one is not worth the new price floor they will not be hired. The reason programming jobs are outsourced is because a Russian engineer will work for $30K and an American won't work for less than $60K. Before the internet this outsourcing wasn't possible, but now it is.
Here is Australia's min wage breakdown:
Under 16 years of age $5.87
At 16 years of age $7.55
At 17 years of age $9.22
At 18 years of age $10.90
At 19 years of age $13.17
At 20 years of age $15.59.
Australia's unemployment rate is 14.3% and underemployment plus unemployment is about 20%. Our U6 unemployment rate is 14.3%, the U6 number includes underemployed workers and unemployed workers. Strangely, when comparing apples to apples the USA has a lower unemployment rate. Australia's low debt load, sound fiscal policy, and mining resources will still give them an edge in the future.
Not necessarily, the impact of min wage depends on local labor markets. If the market is already paying more than min wage then raising the min wage won't impact the market, but if any one is not worth the new price floor they will not be hired. The reason programming jobs are outsourced is because a Russian engineer will work for $30K and an American won't work for less than $60K. Before the internet this outsourcing wasn't possible, but now it is.
Here is Australia's min wage breakdown:
Under 16 years of age $5.87
At 16 years of age $7.55
At 17 years of age $9.22
At 18 years of age $10.90
At 19 years of age $13.17
At 20 years of age $15.59.
Australia's unemployment rate is 14.3% and underemployment plus unemployment is about 20%. Our U6 unemployment rate is 14.3%, the U6 number includes underemployed workers and unemployed workers. Strangely, when comparing apples to apples the USA has a lower unemployment rate. Australia's low debt load, sound fiscal policy, and mining resources will still give them an edge in the future.
The ONLY tax which has gone up at the Federal level for normal people has been the repeal of the payroll tax reduction which is something REPUBLICANS demanded. Which shows me they are fine with raising taxes just as long as it doesn't effect the ultra wealthy who own and control them. As for the claim that health care reform has increased costs, bull, it will net save on costs nation wide. Sure, you pay ever so slightly more now to save a bunch later but the net effect is positive and all we've done is get rid of our free rider problem.
No healthcare cost will not increase on people who are already getting all the other freebies so that be fine with you. Most people don't know that if you have a predisposing condition they will have to pay $63.00 and just because an insurance company can't turn them down they will be rated in tiers, they will just have to pay higher insurance premiums.
Fail? You think Wiki is a better source than the Australian Bureau of Labor? Their 5.4% figure counts people that work one hour week as employed and doesn't count people that are in a job training program or gave up.
On your other points. They also have higher taxes, a stronger social safety net, stronger unions, enforced borders, and better education standards. The per capita income is only $1000 higher though.
Democrats are talking about raising the minimum wage but with businesses already having to cut back because of higher taxes and Obamacare raising the minimum wage will have the exact OPPOSITE effect. Business owners will begin buying equipment that does what those minimum wage earners do now. There will be a boom in self-service checkout cashiers like those already in Home Depot and grocery stores, if the minimum wage goes up. Watch for the companies who manufacture these systems, their sales will skyrocket along with youth unemployment. In particular NCR appears poised to benefit from a minimum wage increase.
Might be a good investment opportunity.
When my supermarket chain (HEB) started using them they had 4 self-checkouts and one cashier type person watching over. Now some of the HEBs have moved up to 6 self-checkouts with that same one cashier overseeing them.
HD and Lowes now have 4 self-checkouts with one cashier.
If I don't have a lot of stuff and they all have scanner labels I look for self-checkouts; they're just so much quicker.
It's debatable if self-serve checkouts save companies money. They still need an attendant, require servicing by in house staff or by called in technicians, and require computer resources and staff at head office. Albertsons' supermarket removed them because of the headaches and costs - it's cheaper and more reliable to have cashiers.
The new Wal-Mart on the west side of my town opened up with no self service checkouts even though the much older Wal-Mart on the east side has them. Maybe stores have found it's also too easy to cheat when customers use self checkouts.
Well with self check outs you still have to have people watch them.. honestly people have problems using such a simple system. I work in a grocery store while I'm attending college, I see it first hand how some people can't comprehend a self checkout kiosk.
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