Category: Wages
The analysis published under this category are as follows.
Friday, January 22, 2021
Why Biden Wants to Win the Fight for $15 Federal Minimum Wage / Politics / Wages
By: Patrick_Watson
President Joe Biden's pandemic relief plan proposes direct cash payments, enhanced unemployment benefits, vaccine funding, and help for state and local governments.
But Biden’s wish list has one unexpected item: a $15 federal minimum wage.
Labor advocates have been asking for this for years, and it’s no surprise a Democratic administration would try now. After all, the coronavirus has spread partly because so many low-wage workers have had to keep working in high-contact environments.
Raising the minimum wage won’t immediately fix that problem, so Congress might reject that part.
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Thursday, September 27, 2018
Real Wage Growth Is Actually Falling / Economics / Wages
By: Patrick_Watson
The US economy is at “full employment,” says the official 3.9% unemployment rate.The problem is that fully employed people haven’t seen enough wage growth. It’s a puzzle. Wages used to rise faster when unemployment was this low.
That’s why there was much celebration when the August jobs report showed a 2.8% annual increase in average hourly earnings for “Production and Nonsupervisory Employees,” i.e., regular workers.
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Sunday, June 17, 2018
What Are Corporate Tax Cuts Doing to Wages? / Economics / Wages
By: Harry_Dent
There’s no end to the insanity. Our central bankers and politicians are trying to keep this artificial bubble going at all costs.How shortsighted. How arrogant. How selfish!
These politicians will be roasted in history, not just for creating the greatest bubble ever, but for extending it far beyond any logic.
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Sunday, June 17, 2018
Comparing Wages Globally / Economics / Wages
By: Harry_Dent
Finally! I recently came across this great analysis that the OECD (the Organization for Economic Co-operation and Development) did to show how well off workers in different countries are after adjusting for income and entitlement taxes, like social security and health care.Basically, it measures what people get paid for a fair day’s work.
And we’re not talking average household income here. Household numbers are affected by choices: whether both spouses work full-time, one part-time, or one not work at all… Female participation rates AND the number of kids one chooses all have an effect on per capita numbers.
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Wednesday, April 18, 2018
What Does it Take to Create Living Wage Jobs? / Politics / Wages
By: BATR
For those with the practical experience of being an employer, it is well established that in order for an enterprise to survive, profitability is a primary objective. Employing labor is a function of fulfilling a needed task and matching the skills of the worker with the ability of making or running equipment in order to produce the end product for sale. These conditions are the basics when applicants are hired. Putting aside cultural values of work itself, the methods for training the expertise to become productive are often overlooked by managers in the fast paced and changing work environment. Resolving this problem is the practical path on how to build a viable workforce, which in turn would go a long way to be able to pay a living wage.
Thursday, July 06, 2017
London Workers Real Earnings Still below 2007 in 27 Boroughs / Economics / Wages
By: Submissions
EARNINGS IN 27 LONDON BOROUGHS STILL BELOW 2007 LEVEL ONCE INFLATION HAS BEEN TAKEN INTO ACCOUNT NEW GMB STUDY SHOWS
Impunity for employers hostility towards workers rights is maybe more important than the pay cap in the public sector in holding down pay in the private sector says GMB London region
The real value of earnings for all full-time employees resident in London has dropped by 17.9% between April 2007 and April 2016 a new GMB London Region analysis of the Annual Survey of Hours and Earnings shows.
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Thursday, June 29, 2017
US Minimum Wage / Economics / Wages
By: Submissions
John Dunham writes: What a difference a day makes. Just this month, a group of researchers at the University of Washington (UW) released a working paper outlining how a $13 per hour minimum wage for restaurant workers in Seattle has led to exactly the opposite effects that proponents predicted.
According to the team at UW, which was funded by the City of Seattle, a 37 percent increase in Seattle’s mandatory minimum wage for restaurant employees resulted in a decrease of working hours for these employees of about 9 percent, and an overall loss in income of $125 per month. This is significant because the minimum wage increase, which was promoted as a way to help lower-wage workers, actually cost those same workers about $1,500 per year on average.
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Thursday, September 01, 2016
“The Fly-in-the-Ointment” -> Stagnant Wages & Hidden Inflation / Economics / Wages
By: John_Mauldin
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WHY WAGES HAVE STAGNATED
“The statistics we rely on are becoming more and more suspicious.”
Statistics are now used for perception management rather than reflecting the real economy. Of all these statistics we’re relying on to reflect reality, some of them are really suspect. We’re trying to stick with the ones that are valid. GDP is flawed but still our bellwethers, and we’re still relying on FRED database.
Saturday, April 09, 2016
The Minimum Wage Debate – So What? / Economics / Wages
By: Andy_Sutton
There has been an incredible amount of posturing, debate, and arguing over the minimum wage situation – particularly surrounding recent events in California and New York where legislation was recently signed into law that would effectively double the nominal minimum wage over the next several years – 6 years in California, and 3 in New York City. The rest of New York will see the changes phased in over a longer period of time.
Instead of diving headlong into the useless arguing and name-calling, I think it is important to take a step back from the dogmatic rhetoric we hear on television, from the media, our legislators, and those in academia and take a hard look at the economics behind the idea of having a minimum wage to begin with. This going to take a bit of a leap for pretty much all of us since we’ve either grown up with a minimum wage in place or have had a job that paid minimum wage at some point – myself included.
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Sunday, April 03, 2016
California Minimum Wage Hike History / Economics / Wages
By: Mike_Shedlock
California Governor Jerry Brown launched a Political Earthquake proposing a series of minimum wage hikes every year between now and 2022 when the minimum wage hits $15.
The Huffington post reports "The new law will boost paychecks for millions of California workers. More than 40% of California workers earn less than $15 dollars an hour."
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Thursday, November 05, 2015
Earnings - Pulling Out All the Stops / Personal_Finance / Wages
By: John_Mauldin
By Jared Dillian
When I was a teenager, I had a different sort of part-time job. I was a church organist.
Actually, it was the best job ever because I was something of a piano prodigy as a child. Around age 12, my parents and I had to make a conscious decision about whether I was going to pursue a career in music. I decided not to, which has greatly reduced the amount of Ramen noodles I have eaten over the years.
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Sunday, October 18, 2015
Quantitative Easing Was a Bust; Let’s Try Higher Wages Instead / Economics / Wages
By: Mike_Whitney
Why is the economy still in the doldrums after 6 years of zero rates and three rounds of Quantitative Easing?
It’s because consumers aren’t consuming and there’s too much debt. You see, despite the Fed’s wacko theories about pumping liquidity into the financial system to make investors feel wealthier, people actually have to buy things to generate growth. And the truth is, consumers have reduced their spending because wages are flat, incomes are falling and many of them are still hanging on by the skin of their teeth. So consumption has been unusually weak. Economist Stephen Roach made a good point in an article at Project Syndicate. He said, “In the 22 quarters since early 2008, real personal-consumption expenditure, which accounts for about 70% of US GDP, has grown at an average annual rate of just 1.1%, easily the weakest period of consumer demand in the post-World War II era.” (It’s also a) “massive slowdown from the pre-crisis pace of 3.6% annual real consumption growth from 1996 to 2007.” (“Occupy QE“, Stephen S. Roach, Project Syndicate)
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Friday, September 25, 2015
How to Force Your Boss to Give You a Pay Rise / Personal_Finance / Wages
By: DailyWealth
Mark Ford writes:
Over the years, I've had the awkward duty of declining raises to dozens of employees.
Most of them simply sulked and disappeared. But a few of them took the experience as a wake-up call and fought back.
They didn't see themselves as losers, and they weren't going to let me view them that way, either.
If you get turned down for a raise, arguing with your boss won't do you any good.
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Sunday, September 06, 2015
The Failed Moral Argument for a "Living Wage" / Economics / Wages
By: MISES
Ryan McMaken writes: With Labor Day upon us, newspapers across the US will be printing op-eds calling for a mandated “living wage” and higher wages in general. In many cases, advocates for a living wage argue for outright mandates on wages; that is, a minimum wage set as an arbitrary level determined by policymakers to be at a level that makes housing, food, and health care “affordable.”
Saturday, June 13, 2015
Minimum Wages Hikes Are Actually Tax Hikes / Economics / Wages
By: Barry_M_Ferguson
The US federal minimum wage is getting a lot of attention these days. I have no doubt that the current $7.25 per hour minimum wage will be raised soon because american intellect has been diseased and destroyed by a Pelosi-like infestation of terminal ignorance. Americans are no longer capable of examining a problem fully to understand the correct solution. Sound bits, regardless of their relation to truth, have replaced logic.
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Wednesday, May 06, 2015
Government's Share of Minimum Wage Increase / Politics / Wages
By: BATR
The working poor suffer disproportionately from the offshoring of high paying jobs. The upsurge an hour in the minimum wage economy is the net result of a consorted effort to lower the standard of living of not just the struggling impoverished but for all scrambling households. When the communist manifesto advocated a progressive income tax, the proletariat was supposed to get a sliver of social justice. Just how well did that hogwash turn out?
Saturday, April 25, 2015
The "Living Wage" Mistake / Economics / Wages
By: MISES
Ryan W. McMaken writes: Much of the push to raise minimum wages centers on the assumption that each individual worker should be paid an amount that allows the worker to purchase food, health care, transportation, and housing based on that one wage alone. In many cases, the living wage claims extend to the claim that each worker — or two adult workers, in some cases — should be able to support a family of four or more.
Friday, March 06, 2015
Who Benefits From Higher Minimum Wages? Demographic Perspective / Economics / Wages
By: Mike_Shedlock
Of all the ridiculous notion floating around in the liberal media is the notion that higher minimum wages will create jobs.
The theory goes like this: Pay people more, they will have more to spend, and by spending more they will create more jobs. On that basis, proponents argue for a $15 minimum wage at McDonald's. There are several obvious flaws in such arguments.
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Monday, February 09, 2015
Yes, Minimum Wage Still Increases Unemployment / Economics / Wages
By: MISES
Andrew Syrios writes: Raising the minimum wage has become the cause célèbre for many on the progressive left. Most notably, Seattle has passed a $15 per hour minimum wage. In addition, California lawmakers are trying to pass a state-wide $13 per hour minimum wage and President Obama is supporting the increase of the federal minimum wage from $7.25 to $10.10.
Thursday, August 28, 2014
A Lesson in Economic Analysis from the Minimum Wage Debate / Economics / Wages
By: MISES
Kenneth A. Zahringer writes: In the ebb and flow of interventionist politics, there are some issues that surface periodically regardless of how many times and how completely they are proven to be harmful to the very people they are purported to help. Currently the tide is once again carrying the minimum wage to the forefront of collective attention. Supporters of this and similar measures often use straw-man arguments, like the one in the picture below.