another economic disaster in gestation

[Fender]

What's a bit more unemployment at this stage?

[Grandpa Stu]

doubt it will have much of an impact. not all states use the federal minimum.
http://www.dol.gov/esa/minwage/america.htm

[GONNAFISTYA]

So if I get this straight runtcock is getting a pay raise to $7.25/hour?

Wow. You can buy a whole lot of crack for that much?

[HM-PuFFNSTuFF]

Raising the minimum wage is not an economic disaster. It is good for the economy.

[tnf]

not for all the small business owners who already cannot afford insurance for their employees and who are forced to raise prices to cover the new wages. I'm not arguing against livable wages at all - just saying that raising the minimum wage can have some negative ramifications.

[GONNAFISTYA]

I think it's at the point where wage increases are pretty much mandatory to get people's spending capacity and confidence back up otherwise this economic funk will continue and the dollar really will crash. With the price of gas and food going through the roof it needs to swing the other way if it has a chance to recover.

With everything going on I simply cannot believe that the oil industry continues demanding high prices per barrel. They're pricing themselves out and choking several industries in the process which could potentially go down with them. All that does is lead to bailouts and war.

[Transat]

USA of all countries has a min wage of $7.25/hour? Isn't that a bit shameful, I mean it's the USA.
Just across the border it's $10.00/hour that is 9.55/hour USD. Or 10.02/hour USD 6 months ago.

[MKJ]

if only people could make a living out of playing frolf..

[menkent]

by then inflation will have raped us so completely that it will be meaningless. duh.

[HM-PuFFNSTuFF]

not for all the small business owners who already cannot afford insurance for their employees and who are forced to raise prices to cover the new wages. I'm not arguing against livable wages at all - just saying that raising the minimum wage can have some negative ramifications.

Studies show that raising the minimum wage does not lead to greatly increased unemployment. That's a canard.
There are many resources on the net that go into all the benefits of a raising the minimum wage. This will be far from an economic disaster.


-------------------------
There is no evidence of job loss from previous minimum wage increases.

* A 1998 EPI study failed to find any systematic, significant job loss associated with the 1996-97 minimum wage increase. In fact, following the most recent increase in the minimum wage in 1996-97, the low-wage labor market performed better than it had in decades (e.g., lower unemployment rates, increased average hourly wages, increased family income, decreased poverty rates).
* Studies of the 1990-91 federal minimum wage increase, as well as studies by David Card and Alan Krueger of several state minimum wage increases, also found no measurable negative impact on employment.
* New economic models that look specifically at low-wage labor markets help explain why there is little evidence of job loss associated with minimum wage increases. These models recognize that employers may be able to absorb some of the costs of a wage increase through higher productivity, lower recruiting and training costs, decreased absenteeism, and increased worker morale.
* A recent Fiscal Policy Institute (FPI) study of state minimum wages found no evidence of negative employment effects on small businesses.



http://www.epi.org/content.cfm/issuegui ... nwagefacts

[HM-PuFFNSTuFF]

lol
you mean like the price of gas more than doubling down there in the last few years and the increases in food etc. while the minimum wage has remained at $5 and something for 10 years?

Seriously, get your head out of your ass.

[Captain]

USA of all countries has a min wage of $7.25/hour? Isn't that a bit shameful, I mean it's the USA.
Just across the border it's $10.00/hour that is 9.55/hour USD. Or 10.02/hour USD 6 months ago.

Um, in case you're talking about Canada, there is no nationwide minimum wage here, it differs with each province. Only Nunavut's minimum wage is $10/h and no one even lives there. Ontario is second with $8.75.