$15 an hour? Too low! Make it $20 an hour (state, recession, jobs)

[HappyTexan]

Originally Posted by urbanlife78

Never said anyone was forced to work anywhere. That said, if only a "mere 4%" work a minimum wage job, then the issue with increasing the minimum wage shouldn't be a big deal. Yet right wingers try to fight it at all cost to protect their overlords.

Not at all. I just don't think that 16-24 year olds with no experience should be making $15-20/hour because that is the majority of min wage workers.

[Frank DeForrest]

Originally Posted by ContrarianEcon

And Wal-Mart is currently above minimum wage, and so would logically pay above it when it is raised.

Meaning what? Is wal mart the only employer in america?

[HiFi]

No one knows better than the investors how to improve their investment, when they decide to raise wage and hiring guidelines for their employees (like walmart just did) you can rest assured it is a completely different situation than a minimum wage raise.

[ContrarianEcon]

Originally Posted by Frank DeForrest

Meaning what? Is wal mart the only employer in america?

No but with 1% of the work force it is the biggest employer in the US and it dominates the bottom end.

[HiFi]

Originally Posted by urbanlife78

Minimum wage simply provides a minimum a business is allowed to pay an employee.

More accurately, it sets which workers(based on their value added to employers) are allowed to sell their labor.

[ContrarianEcon]

Originally Posted by HiFi

More accurately, it sets which workers(based on their value added to employers) are allowed to sell their labor.

That and the demand for labor. You should try doing a job search in a 2% unemployment labor market. That is a function of the availability of credit.

[HiFi]

Does anyone deny that minimum wage is the strongest (or one of the strongest) factors of the value of the currency? Do market forces exist to you people?

[urbanlife78]

Originally Posted by HappyTexan

Not at all. I just don't think that 16-24 year olds with no experience should be making $15-20/hour because that is the majority of min wage workers.

And at one time one would say they couldn't imagine a 18-24 year old with no experience working a $7.25/hr job. The times have changed, and $15/hr is nothing to brag about. Though realistically, the basis for the federal minimum wage should be about $11-12/hr.

[ContrarianEcon]

Originally Posted by HiFi

Does anyone deny that minimum wage is the strongest (or one of the strongest) factors of the value of the currency?

We should set the labor standard for currency. An hour of unskilled labor should pay the same everywhere in the world.

[urbanlife78]

Originally Posted by HiFi

Does anyone deny that minimum wage is the strongest (or one of the strongest) factors of the value of the currency? Do market forces exist to you people?

Minimum wage has very little impact on the value of our currency. Raising it or lowering it, isn't going to make your dollar worth more or less.