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Saw this on my facebook feed today- minimum wage
Posted on 8/26/14 at 8:02 pm
Posted on 8/26/14 at 8:02 pm
13
Posted on 8/26/14 at 8:07 pm to HailHailtoMichigan!
Dumb
Posted on 8/26/14 at 8:12 pm to HailToTheChiz
Liberals love these gotcha graphics 
Posted on 8/26/14 at 8:14 pm to HailHailtoMichigan!
I also saw two facebook post today about the fake news story about vaccine and the autism link.
Posted on 8/26/14 at 8:15 pm to HailHailtoMichigan!
So the amount of minimum wage jobs increased? That's good news?
Posted on 8/26/14 at 8:17 pm to HailHailtoMichigan!
If the main argument against minimum wage is a negative effect on employment, any evidence to the contrary seems pretty relevant. Is it inaccurate?
Posted on 8/26/14 at 8:19 pm to Zed
The main argument should be:
Min wage increases
Businesses spend more money
Costs of goods and services go up to compensate
(Or jobs are cut to save expenses)
Min wage increases
Businesses spend more money
Costs of goods and services go up to compensate
(Or jobs are cut to save expenses)
Posted on 8/26/14 at 8:22 pm to Zed
quote:
If the main argument against minimum wage is a negative effect on employment, any evidence to the contrary seems pretty relevant. Is it inaccurate?
At the least, it's misleading.
In the 13 states that boosted their minimums at the beginning of the year, the number of jobs grew an average of 0.85 percent from January through June. The average for the other 37 states was 0.61 percent.
Nine of the 13 states increased their minimum wages automatically in line with inflation: Arizona, Colorado, Florida, Missouri, Montana, Ohio, Oregon, Vermont and Washington. Four more states — Connecticut, New Jersey, New York and Rhode Island — approved legislation mandating the increases.
Twelve of those states have seen job growth this year, while employment in Vermont has been flat. The number of jobs in Florida has risen 1.6 percent this year, the most of the 13 states with higher minimums. Its minimum rose to $7.93 an hour from $7.79 last year.
A good contrast is North Dakota and Ohio.
North Dakota — which didn't raise the minimum wage and has prospered because of a boom in oil and gas drilling — rose 2.8 percent since the start of this year, the most of any state.
But job growth in the aging industrial state of Ohio was just 0.7 percent after its minimum rose to $7.95 from $7.85. The federal minimum wage is $7.25.
tl;dr - don't believe everything you read, especially from "teh FB".
Posted on 8/26/14 at 8:24 pm to HailToTheChiz
quote:
Min wage increases
Businesses spend more money
Costs of goods and services go up to compensate
(Or jobs are cut to save expenses)
Exactly. Six months is far too short a time to gauge whether a rise in the minimum wage helped or hindered Unemployment and it's WAAAAAAAY to short a time if the insinuation is that it's the only reason Unemployment declined.
Posted on 8/26/14 at 8:24 pm to HailToTheChiz
quote:I definitely think you'd see costs go up to a certain point before jobs start getting whacked, so the response wouldn't be immediate, but it's still a huge argument used against minimum wage. Results from a much greater increase like in Seattle will be more interesting.
Costs of goods and services go up to compensate
Posted on 8/26/14 at 8:29 pm to Zed
quote:
Is it inaccurate?
I'm happy to accept the statistic as accurate without checking it. But the question should be "is it relevant?" I'd want to see the growth rates isolated in industries where minimum wage workers are a high proportion.
An easy, low-hanging fruit type of retort would be "well the growth in those states would have been even higher, had that MW remained where it was."
Posted on 8/26/14 at 8:30 pm to Bard
It's real early to start evaluating the effects of increases, but if unemployment had gone up you better believe minimum wage antagonists would be shouting it from the mountaintops.
Posted on 8/26/14 at 8:30 pm to HailHailtoMichigan!
I am glad to see the clowns enjoying their states rights. It's the way it should be 
Of course, their purpose does not follow that logic. They want it to be a Federal change.
Too blinded by their own hatred of 'the other side' to realize what their cause should be.
Of course, their purpose does not follow that logic. They want it to be a Federal change.
Too blinded by their own hatred of 'the other side' to realize what their cause should be.
Posted on 8/26/14 at 8:31 pm to Zed
quote:
I definitely think you'd see costs go up to a certain point before jobs start getting whacked
Agree. Especially since minimum wage jobs tend to be burger flippers, grocery baggers, etc. where the demand for the goods and services is inelastic. People are still going to go to McDonald's if the price goes up. People are still going to buy groceries or go to restaurants.
quote:
Results from a much greater increase like in Seattle will be more interesting.
Agree. Increase that much, that quickly, and businesses can't raise the prices. They have to spread their chips--for example, shorten hours to eliminate less profitable time periods, use slightly smaller portions, bump prices up a little--so consumers don't notice any one thing.
Other problem there is that Seattle is one of the biggest tech centers in the world. They'll come up with automated innovations quickly, and some of those will replace the minimum wage jobs.
Posted on 8/26/14 at 8:32 pm to HailHailtoMichigan!
The empirical evidence does not support the free market stance on minimum wage.
I don't know the right answer (I lean towards no min wage). To think there is a single right one is foolish.
I don't know the right answer (I lean towards no min wage). To think there is a single right one is foolish.
Posted on 8/26/14 at 8:41 pm to 90proofprofessional
quote:Sure. Fast food would be interesting.
I'd want to see the growth rates isolated in industries where minimum wage workers are a high proportion.
Posted on 8/26/14 at 8:42 pm to HailHailtoMichigan!
Social media gets a downvote everytime from this guy.
Posted on 8/26/14 at 8:44 pm to HailToTheChiz
I was a corporate store manager for 34 years. Everytime Minimum Wage was raised by Washington in the past, we were called and sent a letter[before E-mails], to cut the payroll when Minimum Wage is raised. Example-once I had to cut 25 down to 22. Another time I had to cut 15 out of 300. It always caused lay-offs and unemployment. If your payroll is 8% of Sales, Bentonville will order you to cut. Period.
Posted on 8/26/14 at 8:45 pm to TT9
Probably because Obamacare forces employers to cut back to less than 28 hours a week and hire more unskilled laborers.
Posted on 8/26/14 at 8:46 pm to Bestbank Tiger
quote:Yeah, the effect on prices should be more obvious.
Agree. Increase that much, that quickly, and businesses can't raise the prices. They have to spread their chips--for example, shorten hours to eliminate less profitable time periods, use slightly smaller portions, bump prices up a little--so consumers don't notice any one thing.
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