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Thread: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Quote Originally Posted by DA60 View Post
    You do not hire people just on need. If that was the case, then pay would be irrelevant.

    And your company has not raised prices for probably one of two reasons. a) they do not think they can because their customers will not bear it; or b) your comapnies profit margin was so great that they have no need to raise prices.

    But one thing is 100% for certain - all other things being equal, your company is now making less money then iot used to assuming they are paying their people more money with zero increase in productivity. That is a fact.

    Just because they have not yet raised prices does not mean they do not want to or will not soon be forced to. It just means they have not yet.

    Nothing is free in business. If you raise costs then you have to raise prices or you will lower profit. Period.
    Actually, wages have lagged increases in working productivity for quite some time now. Kind of throws your contention out of the water.

    WAGES-PRODUCTIVITY.jpg
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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Quote Originally Posted by poweRob View Post
    Wait a second... So what you are saying is that a commentary/opinion piece written on a very conservative website...

    cnsnews.com
    The Right News. Right NowTM.

    ... a site that thinks sourcing it's own parent company's study is unbiased in any way...

    Study after study by the Media Research Center, the parent organization of CNSNews.com, clearly demonstrate a liberal bias in many news outlets – bias by commission and bias by omission – that results in a frequent double-standard in editorial decisions on what constitutes "news."

    You mean to say that they are saying something super uber-duber completely conservative? All while saying that you should only trust them because it's EVERYONE ELSE that is biased...

    Color me shocked.
    Wait.. What? The study was not done by them.. It was done by "Two economists from the University of California at San Diego". Are you suggesting that CSN owns the University?

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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Lying GOP politicians taking credit for the greatest job growth in 15 years, 250,000 jobs on the average last year.

    Forcing an increase in hours per week to 40 for ACA, as the GOP wants to do, will cause a REAL reduction in employment of low-skilled workers.

    Pushing more dirty oil on the market will continue the loss of oil worker jobs that has now started .
    Physics is Phun

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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Quote Originally Posted by buck View Post
    Wait.. What? The study was not done by them.. It was done by "Two economists from the University of California at San Diego". Are you suggesting that CSN owns the University?
    Nope. Not contending that at all. Just contending that your source has made it his mission, to use his words, to ignore all the studies he doesn't want to hear. Like this large list of studies at this page.

    Research Shows Minimum Wage Increases Do Not Cause Job Loss

    Screw all of those studies. This guy found a couple of students.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Quote Originally Posted by buck View Post
    More evidence for those that don't believe basic econ applies to labor to ignore.

    Minimum Wage Hikes Reduced Employment of Low-Skilled Workers | CNS News
    Even the left knows this-they don't care. It sounds good, and if feels good to support such legislation and therefore is more than enough.

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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Quote Originally Posted by poweRob View Post
    Nope. Not contending that at all. Just contending that your source has made it his mission, to use his words, to ignore all the studies he doesn't want to hear. Like this large list of studies at this page.

    Research Shows Minimum Wage Increases Do Not Cause Job Loss

    Screw all of those studies. This guy found a couple of students.
    1) I know two of the older studies listed on that page, and they have been refuted with more up to date studies. I suspect that if I looked at some of the others, the same would be found.
    2) Just for fun, I thought I'd take a look at who created the most recent studies (2009 forward)... Seems to be three groups - CEPR, NELP and UofCA Berkley... All far left advocates reaching far left conclusions. Not surprising.
    3) It's far more than one study. There are actually multiple studies, including the CBO indicating such - of course, I am sure you already knew this.. It was just inconvenient for your argument.
    Last edited by buck; 01-16-15 at 12:17 AM.

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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Quote Originally Posted by buck View Post
    I know two of the older studies listed on that page, and they have been refuted with more up to date studies. I suspect that if I looked at some of the others, the same would be found.
    lol... sure.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Quote Originally Posted by SouthernDemocrat View Post
    You will have to forgive me if I am unconvinced by a column on an economics blog site. Particularly considering that on one day the right wingers are gripping about how all the jobs being created are low wage / low skilled jobs, but then the next day they claim the minimum wage is killing low wage / low skilled jobs.
    1. the majority of new jobs being created are below median wage.
    2. creating a price floor artificially reduces demand. This is true of any product, to include labor. Increasing the price floor, reduces demand.
    3. #2 doesn't negate #1 and visa versa.

    I know, I know, I know…. Its economists that wrote the column.
    actually they did a study and then wrote a column about it - and came broadly to the same conclusion as most of the available literature, to include the CBO.

    Well economics is a bit unique as a field of science, as in more than any other scientific field the individual economists personal beliefs and ideology seems to influence their analysis.
    True enough - it informs many base assumptions. However, that does not make it unique as a field of social science, or even of science.

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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Quote Originally Posted by SouthernDemocrat View Post
    Actually, wages have lagged increases in working productivity for quite some time now. Kind of throws your contention out of the water.

    WAGES-PRODUCTIVITY.jpg
    Not really. Whos says they are a fixed ratio? Do you support wage decreases when profits are down?

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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Quote Originally Posted by poweRob View Post
    Nope. Not contending that at all. Just contending that your source has made it his mission, to use his words, to ignore all the studies he doesn't want to hear. Like this large list of studies at this page.

    Research Shows Minimum Wage Increases Do Not Cause Job Loss

    Screw all of those studies. This guy found a couple of students.
    no way, what a completely unbiased site. businessforafairminimumwage - I'm sure they come to this open minded

    meanwhile....

    National Bureau of Economics Working Paper 12663: Studies that focus on low-wage workers provide relatively overwhelming evidence that minimum wage increases result in strong disemployment effects

    National Bureau of Economics Working Paper 18681: Utilizing proper control groups leads to stronger disemployment effects; the evidence shows that minimum wage increases still represent a trade-off between higher wages for some and unemployment for others

    National Bureau of Economics Working Paper 19262: We find that the minimum wage reduces net job growth, with the most pronounced effects on younger and low-wage workers

    National Bureau of Economics Working Paper 6127: The Evidence indicates that Minimum Wage Increases mostly redistribute resources among the low wage demographics, with slightly more people falling into poverty due to the lost income of disemployment than rising out of it due to income increases.




    In what other industry do you people think that hiking up the price for the exact same product increases demand?

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