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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 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.

    Attachment 67178971
    Why should they track?

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

    Quote Originally Posted by US Conservative View Post
    Not really. Whos says they are a fixed ratio? Do you support wage decreases when profits are down?
    If it means you keep your job? Yeah I do. Many people saw wages freezes for a few years following the "Great Recession" in 2008.
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    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
    If it means you keep your job? Yeah I do. Many people saw wages freezes for a few years following the "Great Recession" in 2008.
    Not to mention hours cut which is wage cut.
    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 cpwill View Post
    Why should they track?
    Historically they always have. Its only been since 1980 or so that there has been a disparity. Its mostly due to globalization, the wide spread use of container ships, the decline of unions, technology, and various other macroeconomic forces. I am not saying that any of them are good or bad, just pointing out reality (I work in IT, its my job to make people more productive). A company that just pays minimum wage does indeed get more and more productivity out of their employees over time.

    Studies on the minimum wage are all over the place. Some show it hurts employment, others find that the low wage job market is elastic and easily absorbs small increases in the minimum wage. Usually when the minimum wage has been increased it was only increased after most companies were paying more than the current minimum wage was. That is probably why economists are so divided over the impacts of minimum wage increases.
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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Quote Originally Posted by SouthernDemocrat View Post
    Historically they always have. Its only been since 1980 or so that there has been a disparity. Its mostly due to globalization, the wide spread use of container ships, the decline of unions, technology, and various other macroeconomic forces.
    I'd agree. So you in fact have lots of good reasons why they shouldn't track?

    Studies on the minimum wage are all over the place. Some show it hurts employment, others find that the low wage job market is elastic and easily absorbs small increases in the minimum wage. Usually when the minimum wage has been increased it was only increased after most companies were paying more than the current minimum wage was. That is probably why economists are so divided over the impacts of minimum wage increases.
    Studies that focus on the lowest wage segments of society rather than measuring society overall bring back disemployment effects. Studies which include things like college professors come to the startling conclusion that they aren't effected. It's like asking if getting shot is bad for your health, and then coming back with a negative answer by surveying the entire populace (and noticing no significant loss) rather than focusing on the people who are actually shot.

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

    Quote Originally Posted by poweRob View Post
    Well in every industry where money and the spending of it applies.
    That's fascinating. So if the price of taco bell taco's shoots up to $100 a piece tomorrow, Taco Bell will sell as many tacos?

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

    Quote Originally Posted by cpwill View Post
    That's fascinating. So if the price of taco bell taco's shoots up to $100 a piece tomorrow, Taco Bell will sell as many tacos?
    Ridiculously extreme hyperboles don't make your position stronger.
    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 cpwill View Post
    I'd agree. So you in fact have lots of good reasons why they shouldn't track?



    Studies that focus on the lowest wage segments of society rather than measuring society overall bring back disemployment effects. Studies which include things like college professors come to the startling conclusion that they aren't effected. It's like asking if getting shot is bad for your health, and then coming back with a negative answer by surveying the entire populace (and noticing no significant loss) rather than focusing on the people who are actually shot.
    Well here is one of the problems with studies on the minimum wage though. Back in the Clinton years the minimum wage was raised 3 times if I am not mistaken, yet median household income went up every single year, and the poverty rate went down every single year eventually dropping to its lowest rate on record. The same is true with the 60s. You just can't find a consistent correlation between minimum wage increases and any harmful impacts to the economy or job creation. I would imagine that is because we have never really raised the minimum wage by that much, and just about every time we have done so, it was never raised over what overall prevailing low skilled job wages were anyway.

    Point being that while just about all economists think that if you raised the minimum wage to say 18 dollars an hour, it would hurt job creation for low skilled workers. That is a given. However, economists are all over the place on whether an increase from say 7.25 to 8.10 in a good economy would hurt job creation at all.
    Last edited by SouthernDemocrat; 01-16-15 at 12:45 AM.
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    Re: Minimum Wage Hikes Reduced Employment of Low-Skilled Workers

    Quote Originally Posted by poweRob View Post
    Ridiculously extreme hyperboles don't make your position stronger.
    neither does tossing out the basic laws of supply and demand.

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