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Above the (Federal) minimum wage, market forces determine wages. Wages are the "price" of labor, reflecting the ratio of demand for, to supply of, workers. Above Government-enforced minimum wages, businesses are paying people what they are (economically, not socially) worth. One business, on the west coast, paying under $10 per hour, does not depress the wages, of somebody on the east coast, earning $20 per hour. Low-pay, low-skill jobs are a different sector of the labor market, than high-pay, high-skill jobs. They are not directly related.one in four American jobs pays less than $10 per hour (26 percent), according to the study. And its not just those workers who sufferbig businesses that pay collectively pay millions of workers low wages set a basement for the rest of the wage scale and depress earnings above $10, too.
There you go again, pushing tha tea party dogma. Got proof???Above the (Federal) minimum wage, market forces determine wages. Wages are the "price" of labor, reflecting the ratio of demand for, to supply of, workers. Above Government-enforced minimum wages, businesses are paying people what they are (economically, not socially) worth. One business, on the west coast, paying under $10 per hour, does not depress the wages, of somebody on the east coast, earning $20 per hour. Low-pay, low-skill jobs are a different sector of the labor market, than high-pay, high-skill jobs. They are not directly related.one in four American jobs pays less than $10 per hour (26 percent), according to the study. And it’s not just those workers who suffer—big businesses that pay collectively pay millions of workers low wages set a basement for the rest of the wage scale and depress earnings above $10, too.
To boost wages, reflecting the ratio of demand for, to supply of, workers; workers would need businesses to want more workers. Eliminating minimum wage laws, that criminalize, outlaw, ban, and prohibit millions of low-pay jobs, would re-legalize those millions of jobs. Businesses would want millions more workers. Business demand for labor would increase. The millions of new hires would not compete for other people's jobs. Re-legalizing low-pay jobs, at low-pay businesses, would increase demand for workers, and (tend to) pump up wages for everybody else.
Who cares? Wages aren't, and shouldn't, be determined by capacity to pay. They're determined by productivity and the competitiveness of the labour market.
I thought the minimum wage jobs were all in small business being filled by teenagers.
Fooled us again!!
Large, Profitable Companies Employ Most Minimum-Wage Earners
I thought the minimum wage jobs were all in small business being filled by teenagers.
Fooled us again!!
Large, Profitable Companies Employ Most Minimum-Wage Earners
Economics doesn't have 'truths'. twit.
Who cares? Wages aren't, and shouldn't, be determined by capacity to pay. They're determined by productivity and the competitiveness of the labour market.
I thought the minimum wage jobs were all in small business being filled by teenagers.
Fooled us again!!
Large, Profitable Companies Employ Most Minimum-Wage Earners
Economics doesn't have 'truths'. twit.
Who cares? Wages aren't, and shouldn't, be determined by capacity to pay. They're determined by productivity and the competitiveness of the labour market.
Wages have nothing to do with "what an employee is worth" or "supply and demand". Those days are gone, perhaps forever or at least until a new labor movement is formed.
Wages, especially those for the low paid represent what the market will bear. In other words the lowest price for which an employer can secure workers.
For the last 30 years we have seen the top ten percent's worth and wages spiral upward while the lower and middle class decline. It is not a case of not having money to pay, itis increasingly who that money is being paid to.
AS I have siad before the class war is over and done. The rich have won as they always will in a society with no compassion or morals. A society that values class more than labor.
I thought the minimum wage jobs were all in small business being filled by teenagers.
Fooled us again!!
It's been a slow erosion of the power of labor. It began with:
...Wages have nothing to do with "what an employee is worth" or "supply and demand". Those days are gone, perhaps forever or at least until a new labor movement is formed. Wages, especially those for the low paid represent what the market will bear. In other words the lowest price for which an employer can secure workers...
They SHOULD be determined that way, but they're not.Who cares? Wages aren't, and shouldn't, be determined by capacity to pay. They're determined by productivity and the competitiveness of the labour market.
If a company CAN hire you at MW, they will, and delay a raise as long as needed to maximize profit
Wages have nothing to do with "what an employee is worth" or "supply and demand". .
First, from an American perspective, some Americans getting richer is not "bad" or "worse".Per the Economic Policy Institute, the top 1% of income earners received 59.9% of income growth from 1979 through 2007, while the lower 90% received 8.6%. And it just keeps getting worse...
US workers are driving US businesses abroad. Joining international workers brotherhoods, heeding the advice of "foreign friends"... and thereby driving US businesses to foreign countries, is not legitimate.It's been a slow erosion of the power of labor. It began with companies offering the same benefits to employees that were not in Unions. They then slowly made use of contract employees and H1Bs..to loosen the market. That culminated with off shoring.
