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Drawing on data from the Labor Department, the economists found that across the six cities studied, a 10 percent increase in the minimum wage boosted weekly earnings in the food services industry by an average of between 1.3 and 2.5 percent (depending on which economic model they used) by the end of 2016. Meanwhile, their models pegged the wage hikes’ impact on jobs to a range of 0.3 percent reduction (i.e. negative but tiny) to a 1.1 percent increase.
In the first six major U.S. cities to raise their minimum wage above $10 an hour, workers’ earnings went up while job growth held steady or improved, according to a new study from Berkeley’s Center on Wage and Employment Dynamics.
This is one of a few issues where I strongly disagree with the GOP on. For far too long, corporations have taken advantage of increased profits/revenues--which are often the result of increased worker productivity--and not shared these benefits with the rank and file. Yes, there is a limit where a minimum wage increase past a certain point would be disastrous for the economy. But the current minimum wage is certainly not a fair market wage (workers generally have so little power/influence to truly bargain for a fair market wage), which means that there is often room to grow. Instead of studies predicting doomsday results for raising the minimum wage, I'm more interested in seeing the actual results/consequences of such increases. And time and time again, the results have been positive the economy/worker.
This is one of a few issues where I strongly disagree with the GOP on. For far too long, corporations have taken advantage of increased profits/revenues--which are often the result of increased worker productivity--and not shared these benefits with the rank and file. Yes, there is a limit where a minimum wage increase past a certain point would be disastrous for the economy. But the current minimum wage is certainly not a fair market wage (workers generally have so little power/influence to truly bargain for a fair market wage), which means that there is often room to grow. Instead of studies predicting doomsday results for raising the minimum wage, I'm more interested in seeing the actual results/consequences of such increases. And time and time again, the results have been positive the economy/worker.
What is this increase in ‘worker productivity’ everyone keeps babbling about? Do they mean the technology a corporation invests in which makes it appear that a worker is more productive?
Why so many half measures liberals? $15 an hour won’t be enough in a few years.
Just make the minimal wage $100K now, so progressives can finally stop whining. Just don’t complain when machines are taking your order for a $300 Big Mac
Why so many half measures liberals? $15 an hour won’t be enough in a few years.
Just make the minimal wage $100K now, so progressives can finally stop whining. Just don’t complain when machines are taking your order for a $300 Big Mac
We all know $15 an hour won’t be enough money to live on a few years from now.
So go ahead and make it $100K now and save everyone the whining.
“Burger flippers don’t make enough money. Justice for burger flippers!”
But the reason the democrats dont support raising the minimum wage automatically every year to reflect the national income so we wont have to deal with this every year, is because Wall Street democrats need more suffering to spur people to vote for them. Its the same reason why abortion will not be banned by the GOP either. Its a way to get people to the polls.
Ambulance drivers, hair dressers and animal caretakers make $11 an hour. Fast food workers and child care workers make $10 an hour. Taxi drivers and restaurant cooks make $12 an hour.
Wall Street democrats would like to see a slight increase in those wages and let inflation and rent grow at an even more rapid pace so the value of the increase is eroded over time. So people get mad again and get to the polls. In a functioning democracy, it would be automatically adjusted every year according to the nation's overall income level.
A moderate minimum wage prevents employers from bottom feeding worker pay and leads to little change in unemployment. There is a point that it WILL lead to higher employment. $15 is clearly above that point in most areas.
In some areas, given the extreme costs, professionals are being pushed to living in RVs. This would be like a 40 dollar minimum wage and people still end up homeless. The housing market is literally tearing the area apart for the bottom ?60? percent. What do you do then?
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