Decreasing or eliminating the federal minimum wage will generally decrease ALL labor compensations purchasing powers more than otherwise.
The proportional extent of minimum rates affect is inversely related to the wages amounts thus the lowest earners will be the most severely affected.
The additional jobs induced by eliminating the minimum wage do not now exist because those tasks are not now worthy of the minimum wages purchasing power.
The numbers of qualified employed and unemployed potential employees, (i.e. the labor pool) now exceeds the number of filled and unfilled jobs. Because theres a minimum wage, employers refrain from filling such lower paying jobs with lesser qualified people (unless filling the position becomes necessary). Hiring less qualified or motivated workers, (ever at lesser pay rates) is usually a very expensive mistake.
Because theres a minimum wage, people refrain as best they can from accepting lower wage employment. Thats why so few jobs are actually now offered at the absolute legal minimum rate. There are some real expenses and penalties attached to any job. The commuting costs of an individual and many other expenses will remain similar regardless of that employees pay scale.
Its generally agreed that the elimination of the minimum wage will increase the number of lowest wage jobs that are worthy of the labor markets pay scales, (which will then become severely reduced). The elimination of the minimum wage does create a larger pool of employable labor due to the decreased purchasing power of the lowest wage jobs. With no minimum child labor is financially justified.
The ripple effect due to decreasing or eliminating the minimum rate is decreasing ALL labor compensations but particularly lower wage earners purchasing powers, inducing greater school drop-outs, and increasing those needing public assistance.
Im a proponent of increasing the federal minimum rate and there after annually cost of living adjusting that rate.
Respectfully, Supposn
The proportional extent of minimum rates affect is inversely related to the wages amounts thus the lowest earners will be the most severely affected.
The additional jobs induced by eliminating the minimum wage do not now exist because those tasks are not now worthy of the minimum wages purchasing power.
The numbers of qualified employed and unemployed potential employees, (i.e. the labor pool) now exceeds the number of filled and unfilled jobs. Because theres a minimum wage, employers refrain from filling such lower paying jobs with lesser qualified people (unless filling the position becomes necessary). Hiring less qualified or motivated workers, (ever at lesser pay rates) is usually a very expensive mistake.
Because theres a minimum wage, people refrain as best they can from accepting lower wage employment. Thats why so few jobs are actually now offered at the absolute legal minimum rate. There are some real expenses and penalties attached to any job. The commuting costs of an individual and many other expenses will remain similar regardless of that employees pay scale.
Its generally agreed that the elimination of the minimum wage will increase the number of lowest wage jobs that are worthy of the labor markets pay scales, (which will then become severely reduced). The elimination of the minimum wage does create a larger pool of employable labor due to the decreased purchasing power of the lowest wage jobs. With no minimum child labor is financially justified.
The ripple effect due to decreasing or eliminating the minimum rate is decreasing ALL labor compensations but particularly lower wage earners purchasing powers, inducing greater school drop-outs, and increasing those needing public assistance.
Im a proponent of increasing the federal minimum rate and there after annually cost of living adjusting that rate.
Respectfully, Supposn