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Thread: Minimum Wage Does Not Destroy Jobs

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    Contributor Cheerful Charlie's Avatar
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    Minimum Wage Does Not Destroy Jobs

    https://www.axios.com/minimum-wage-j...33eef4bca.html

    ...
    Job loss predictions over rising minimum wages haven't come true

    Eighteen states rang in 2019 with minimum wage increases — some that will ultimately rise as high as $15 an hour — and so far, opponents' dire predictions of job losses have not come true.
    ...
    Axios used Bureau of Labor Statistics data to compare job growth rates in four states with low minimum wages vs. eight states with high minimum wages:

    • Since 2016, when California became the first state to pass the $15 minimum wage law, all 12 states have seen growth in restaurant, bar and hotel jobs.
    • Three of the four states with job growth higher than the U.S. median have passed laws that will raise the state minimum wage to at least $13.50.
    • Three of the five states with the slowest job growth rates did not have a state minimum wage above the federal minimum of $7.25 an hour.
    • An outlier was Massachusetts, which had the slowest job growth in the sector and currently has the highest state minimum wage: $12 an hour.



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    Conservative politics and economic theory, meet reality. Dire conservative predictions of massive job loss and rising unemployment due to higher minimum wages have not come true.
    Cheerful Charlie

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    Elder Contributor DBT's Avatar
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    Vested interests love to run a good scare campaign whenever their profits are at stake, no matter how small the percentage.

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    Contributor Cheerful Charlie's Avatar
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    The problem is that the claim high minimum wages destroys employment has become an ideology that has been quite stubborn in face of economic experts who have claimed repeatedly that this is not true. Once a bad idea becomes part of a political ideology it gets hard to correct such errors. The thing to notice now though is that minimum wages have been raised on the state and local level and have falsified these conservative claims. This is no longer theoretical, we have strong empirical evidence that this right winged ideological-economic theory is false. The states and cities that raised minimum wages became working experiments that have delegated conservative job killing claims caused by higher minimum wages to the economic equivalent of flat Earthism. As time goes on, this will become more and more clear to all but conservative ideologues.

    When those states that have not raised their minimum wages contemplate doing so, and the usual ideologues start trying to kill such actions by resorting to these economic theories, the proponents can now demonstrate with strong evidence that these right wingers are wrong. proven wrong by direct evidence, not some theory of liberal economists.

    In those conservative states that fail to get with the program, this may be a problem as workers flee these backward states to neighboring states that are more enlightened and therefor offer better living standards. This rather than merely offering big tax advantages and perks to businesses who move to their states will eventually be necessary.
    Cheerful Charlie

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    Standard crap. Minimum wage hikes are usually implemented in growing economies and do little harm at that point. Next recession, though, they increase the job losses.

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    Quote Originally Posted by Loren Pechtel View Post
    Standard crap. Minimum wage hikes are usually implemented in growing economies and do little harm at that point.
    First, most critics do not make that caveat. Nor, does the application of standard demand and supply analysis.
    Quote Originally Posted by Loren Pechtel View Post
    Next recession, though, they increase the job losses.
    And why should anyone think your response is not also standard crap?

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    Contributor Cheerful Charlie's Avatar
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    Does this mean that next recession, those states that have low minimum wages will not suffer job losses?
    Cheerful Charlie

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    Veteran Member Ford's Avatar
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    When I entered the workforce, the minimum wage was $3.35 an hour.

    Raising it beyond that level - to hear tell - would devastate the economy. There would be riots in the streets. The nation could simply not support a minimum of tree fiddy.

    I managed to work my way up the food chain (I was in a restaurant kitchen, after all) and wound up making the princely sum of 6 bucks an hour. When I went for a new gig, and asked for a comparable wage, my new boss said "well you'd damned well better be able to justify that amount of money."

    The idea that someday the minimum would be seven? Jesus, you might as well have nuked the Earth and started over again. It was seen as that bad. Stores being looted by roaming bands of communists. Business owners dragged out into the streets and flayed alive. Right now the federal minimum wage is $7.25, and here I am in my basement wrenching on my modified Pursuit Special ready to head out into the wasteland to take on Humungus in a fat tanker filled with the juice...the precious juice.


    No, but seriously.


    A higher minimum wage isn't the end of civilization. It doesn't destroy the economy. The damage it causes isn't like a catastrophic disease...more like a temporary skin irritation that's easily treated by a topical cream.

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    Veteran Member James Brown's Avatar
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    Minimum wage should be indexed to inflation. Then we don't have to go through this circus every ten years or so.

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    UBI is the better solution. Equalize the bargaining power so that workers aren't negotiating under duress of starvation if they don't have jobs. Then they can get paid what their work is actually worth to a business. Equalize the bargaining power and then supply and demand will fix the wage issue.

    Minimum wage does nothing for the unemployed. Unlink health Care from employment too. End the duress against workers in their negotiation for wages.

    I think you will find many jobs that are now minimum wage jobs will then suddenly pay considerably more than $15 per hour.

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    Quote Originally Posted by Jolly_Penguin View Post
    UBI is the better solution. Equalize the bargaining power so that workers aren't negotiating under duress of starvation if they don't have jobs. Then they can get paid what their work is actually worth to a business. Equalize the bargaining power and then supply and demand will fix the wage issue.
    Demand and supply always "fix the wage issue" if one means that the labor market is in equilibrium.

    Whether or not UBI "fixes the wage issue" by providing a living income alternative, that depends on the level of the UBI.

    Employment fulfills other needs besides income support. Employment may allow the employed to feel part of the community and a sense of self worth, something UBI cannot do.

    Finally, advocating for a pie-in-the-sky solution that has no chance of being implemented in the USA in the near future regardless of who is elected President is simply wasting people's time.

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