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We own a small HVACR business and we don't approve of a higher minimum wage. That's because we already pay our people a decent wage for what they do. People who want more money for a minimum wage job need to go find another, higher-paying job instead.
It's not about what you are paying employees. It's about the earnings of your customers and potential customers. With more money in their pockets, some minimum wage earners may be able to hire your services. That's what it's about.
no really.. I am not wrong in most cases. (see how easy that was?)
Business owners hire people based VALUE. If hiring someone will add value to their busiess.... poof....
raising MW reduces the value of the entry level potential hire making it harder to get hired.
secondly we arent talking about hiring people. we are talking about how much people already hired get paid. so no... im not wrong.
raising MW does not drive demand. It drives inflation which offsets any potental demand, raising wages might have brought.
Companies hire based on value (bringing knowledge and ability to the table) and demand. If there are fewer people with that knowledge and ability then they are willing to pay higher rates. A person who doesn't offer value or if there are too many people who can do the job will keep wages down.
No one is expendable but those who don't have skills are much more easily replaced, hence lower pay.
Companies hire based on value (bringing knowledge and ability to the table) and demand. If there are fewer people with that knowledge and ability then they are willing to pay higher rates.
Exactly. Hiring isn't about how much you have to pay someone. Hiring is about, do I have to have this person.
No business is going to hire someone they don't have to have, regardless of pay.
Companies hire based on value (bringing knowledge and ability to the table) and demand. If there are fewer people with that knowledge and ability then they are willing to pay higher rates.
Are you honestly claiming that minimum wage jobs require knowledge and ability? Seriously, petch.
Are you honestly claiming that minimum wage jobs require knowledge and ability? Seriously, petch.
No one is expendable but those who don't have a higher skill set can be easily trained are easily replaced and there is always someone willing to take the job. Hence lower pay.
Are you honestly claiming that minimum wage jobs require knowledge and ability? Seriously, petch.
I disagree with Petch a lot, and I mean a LOT. But currently minimum wage jobs for the most part require some knowledge or ability. Even running a cash register at a fast foob place requires some ability to move fast, and some knowledge. Right now people without either are seeing massive levels of unemployment (see our youth unemployment rate for a example)
Your link doesnt even talk about "basic" economics, it talks about the opinions of a writer, and a flawed opinion at that
Quote:
As a jobs program, raising the minimum wage is a real loser. Congress raised the minimum wage 10.6% in July, 2009 (know of anyone else getting a raise then?). In the ensuring 6 months, nearly 600,000 teen jobs disappeared,even with nearly 4% growth in the economy, this compared to a loss of 250,000 jobs in the first half of the year as GDP growth declined by 4% Why?
Thats a flawed argument because it isnt based on any truth. He doesnt know why those kids were fired,He is just assuming based on his own opinion.
He doesnt take into account that kids go back to school in August/September and quit their summer jobs.
Quote:
Consider a community based pizza parlor selling 100 pies a day for 360 days at $10 each. Total revenue is $360,000. It employs 10 minimum wage workers earning $7 per hour, working 2000 hours a year, making labor costs $140,000. Assume rent, utilities, equipment, depreciation, insurance, supplies, licenses, and food costs come to $170,000 per year, leaving a profit of $50,000 for the owner and his/her family. Raising the minimum wage $1 would raise labor costs by $20,000 (paying more for the same amount of labor) and reduce profit to $30,000. The owner must either move into a smaller house or raise prices, which reduces the demand for pizza, resulting in the loss of a worker
He literally pulled those numbers out of thin air to make a point. He has nothing to back any of them up. He doesnt know how much a pizza parlor makes, or how many pies they sell in a day, he doesnt know how many ours the parlor is open, he doesnt know over head cost. Heck he doesnt even know if the pizza parlor sales drinks, salads, breadstick, spaghetti, or lasagna ? He even claimed this imaginary owner now has to move into a smaller house, LOL.
read slowly because I am going to go with the established policy for refuting linked stories and this line of debate can be complicated.
forbes is a magazine.
If you can't refute the numbers, why bother?
One problem, of course, is that unemployment has been persistently high since 2008 when the recession hit. Though it’s come down a bit from its 10% peak in October 2009, there is certainly not enough wage competition to ensure that low-wage workers earn a decent living.
Here is another study for you. While it does say that raising the minimum wage won't help the GDP numbers, it also details that it won't hurt job numbers. And this is from a conservative think tank
I disagree with Petch a lot, and I mean a LOT. But currently minimum wage jobs for the most part require some knowledge or ability. Even running a cash register at a fast foob place requires some ability to move fast, and some knowledge. Right now people without either are seeing massive levels of unemployment (see our youth unemployment rate for a example)
People can easily be trained to run cash registers. Ability to move fast is a given no matter what job. No company regardless of profession, job description and pay rate wants to hire a slug.
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