Study shows higher average wages, but fewer jobs and fewer hours for those with jobs. Discuss
Shocker
Im all for areas trying out different things and seeing what happens. Incubators for democracy that sort of thing, we’ll see how it plays out in the longer term.
So you would be in favor of a major city eliminating the minimum wage (with a waiver from the feds of course) to see what happens?
Would be incredibly interesting to see a major city do that. Had to search to find the largest city with a Repub gov & its San Diego. Dont know enough about the city but cant imagine it would fly there, all the other cities have less than a million people so i doubt we could realistically see such a thing. I would imagine people would just flood out of the city to the closest place that does have a minimum wage.
That’s certainly a possible short-term effect. Wouldn’t businesses in that city then raise wages to a level high enough to attract enough workers to be able to stay in business? Ironically, the UW study indicated that minimum wage workers were forced to look for jobs outside of Seattle because of the reduction in available jobs after the minimum wage increase.
Bring on the Luddites.
yea who knows the LT effects, either way in the short/medium term its going to involve more people drawing benefits but tbh its better than us sitting around twiddling our thumbs complaining. Might as well try something new and see what happens.
More efficient workers. And more reason to have universal basic income
Those that were complaining about a “living wage” now have no choice but to twiddle their thumbs since there are no more jobs…haha
Why try something new? What is the problem that needs fixing?
massive underemployment and a large group of people that graduated 07-10 that are left behind and now likely stuck in low end crap paying jobs for life. More broadly automation in general continuing and requiring less and less skilled labor jobs that pay well in favor of more walmart/mcjobs that rely on the government to subsidize their labor costs.
'07-10 … more like '09 - '17 I know a handful of people with business degrees / econ degrees from decent schools who were forced to serve/bartend
i was trying to be fairly conservative with my dates, i graduated in 09 and plenty of people i know a year or 2 ahead and behind me are stuck in crap jobs and at this point have basically missed the boat. There is no incentive to hire an almost 30 year old with no relevant experience when you can just get a fresh grad, those people are lost.
I agree that there is an underemployment issue, particularly with recent college grads. But how is the minimum wage connected to that problem?
Hopefully not at all. As we all know, the biggest hurdle most college grads face is the burden of student loans. If you graduate with significant debt and you’re having trouble finding a minimum wage job (or even looking for one, for that matter) you deserve to be unemployed. (Why is Art History still a major? They should really make your parents sign something saying their child is indeed an idiot before they could pursue it.)
Anyway, McDonald’s is sitting at/near an all-time high because of the success of kiosks over humans. So there’s that…
I never said it was. I think minimum wage is an impediment to businesses. There should be no minimum wage.
^ who at all would be surprised by that opinion coming from a jet setting trust fund baby
I don’t think minimum wage is that relevant to college graduates, except in how a wage floor would likely increase the prices of consumer goods and services. Anyway, from these posts, I would almost guess that higgmond is opposed to such regulation of labor markets. Who would have thought??
Additionally, minimum wage is obviously harmful to business operators if we assume pricing of goods and labor would otherwise be more efficient. There might be a weird effect though, where a high wage floor would accelerate the development of automation tools, which could end up being a stimulus…
i mean the most efficient way would be for the machines to just kill us all, humans are all pretty inefficient. We are rapidly approaching the need for post scarcity economics to grab a hold because things keep edging towards the “late stage capitalism” nightmare. I have no qualms with capitalism but our interpretation of it mixed with our style of government has become pretty atrocious over the last 50 years.
Relative to other animals humans are by far and away the most efficient animals.