Code: The law, which affects about 4.5 million workers among a labor force of 129 million, has prompted a debate over whether the mandate to boost wages will hurt or help the economy. Some labor analysts say it could put more financial strain on small businesses, forcing some to cut jobs. "The timing of this is not great in the middle of a recession," said John A. Challenger, chief executive of Challenger, Gray & Christmas, a Chicago-based outplacement firm. "Is it better to create more jobs at the lower rate or fewer jobs at the higher rate?" Others, though, say the raise is badly needed to help low-wage earners, the majority of whom are adults, keep up with rising food, housing and fuel costs. They regard it as a stimulus that could help reduce the growing savings rate and increase consumer spending, which represents two-thirds of the gross domestic product. The increase "could not have come at a better time," said Heidi Shierholz, an economist at the Economic Policy Institute. But even with it, she said, minimum-wage workers will be paid only $14,500 a year, well below the federal poverty line of $17,346 for a family consisting of an adult and two children. http://consumerist.com/5322731/at-least-so...ge-rises-to-725 thats good for young people, hay
Looks bad to be honest, this is going to ruin at least one in a fifty households. Cutting down wages for people already earning low is unjustified and completely unfair in my opinion.
How is it "cutting down" wages? I used to make $7.00 at my old job. If I were to get re-employed that would be an extra .25 cents. Yes please. Same hours too.
When minimum wage went up in Oregon, I got screwed over. New hires started at a higher wage, but mine never went up compensate, even though I'd been there for over a year at that point. Prices went up to handle the new wages. I pretty much took a $1 pay cut, and every dollar counts for me. Bumping up minimum wage would be a great idea, if prices didn't go up to match. From what I've seen, it just increases the rate of inflation. Low earners will always be low earners because there's always going to be a bottom, no matter how you try to change that. Bumping up minimum wage just changes where the bottom is.
hey! maybe I could!!!!!1!1!1 it doesnt seem like much. and it doesnt exactly bring ---- wage workers above the poverty line still. but then again, thats what you get for dropping out of highschool. but for poor college students like myself, that extra .25 cents, or $10 a week, helps. so no complaining on my part. just make it higher, thats all. and im content with 7.50
