Economics: Minimum Wage, Who Gets Hurt?

[Speaker to Animals]

It’s far from a tiny portion making min wage. I’m on my phone, but wild-ass guess would be 30% of The labor force.

More like 1-3%, depending upon how you count it.

Minimum wage issue is a political red herring.

I wouldn't mind raising it because it will usher in new automation, though.

We should probably get some actual sources, at some point lol.

I know it’s more than that though.

Less than half (45%) of the 2.6 million hourly workers who were at or below the federal minimum in 2015 were ages 16 to 24. An additional 23.3% are ages 25 to 34, according to the Bureau of Labor Statistics; both shares have stayed more or less constant over the past decade. That 2.6 million represents less than 2% of all wage and salary workers.

http://www.pewresearch.org/fact-tank/20 ... imum-wage/


Forgot to leave the link in that post.


Minimum wage is not a real issue. It doesn't affect hardly anybody. It's just meant to pick at your emotions (on both sides) and get you to avoid looking at serious problems.

[SuburbanFarmer]

More like 1-3%, depending upon how you count it.

Minimum wage issue is a political red herring.

I wouldn't mind raising it because it will usher in new automation, though.

We should probably get some actual sources, at some point lol.

I know it’s more than that though.

Less than half (45%) of the 2.6 million hourly workers who were at or below the federal minimum in 2015 were ages 16 to 24. An additional 23.3% are ages 25 to 34, according to the Bureau of Labor Statistics; both shares have stayed more or less constant over the past decade. That 2.6 million represents less than 2% of all wage and salary workers.

http://www.pewresearch.org/fact-tank/20 ... imum-wage/


Forgot to leave the link in that post.


Minimum wage is not a real issue. It doesn't affect hardly anybody. It's just meant to pick at your emotions (on both sides) and get you to avoid looking at serious problems.

Welp, that takes inflation out of the question then - though I would be pushing for more money, if I suddenly made much less over the 'minimum'.

I'm on board for $15 then. If you can make do with fewer employees, great. If anything, it's going to affect Megacorp Inc. 1000x more than ma n' pa, so sign me up.

[Speaker to Animals]

We should probably get some actual sources, at some point lol.

I know it’s more than that though.

Less than half (45%) of the 2.6 million hourly workers who were at or below the federal minimum in 2015 were ages 16 to 24. An additional 23.3% are ages 25 to 34, according to the Bureau of Labor Statistics; both shares have stayed more or less constant over the past decade. That 2.6 million represents less than 2% of all wage and salary workers.

http://www.pewresearch.org/fact-tank/20 ... imum-wage/


Forgot to leave the link in that post.


Minimum wage is not a real issue. It doesn't affect hardly anybody. It's just meant to pick at your emotions (on both sides) and get you to avoid looking at serious problems.

Welp, that takes inflation out of the question then - though I would be pushing for more money, if I suddenly made much less over the 'minimum'.

I'm on board for $15 then. If you can make do with fewer employees, great. If anything, it's going to affect Megacorp Inc. 1000x more than ma n' pa, so sign me up.

It will automate fast food restaurants, coffee shops, and God knows what else. I prefer it that way.

Not sure how to automate a burrito shop, but even those guys make more than minimum wage around here.

[SuburbanFarmer]

There's probably a way, but it wouldn't be cheap. Burritos are pretty tricky business. I usually stump most of the local Chipotle employees, with my extra sour cream, extra cheese, and 3 salsas.

[nmoore63]

Grunpcat thought 30% of the labor force was on minimum wage?

Please never listen to this person about economics ever.

Wa minimum wage is pretty rough on small business outside of the metropolitan area. Makes it very difficult to try and training anyone.

[Okeefenokee]

Please never listen to this person about economics ever.

This was established fucking years ago.

[SuburbanFarmer]

Please never listen to this person about economics ever.

This was established fucking years ago.

At about the same point that I started talking over your head.

Another stat for you:

Eighteen percent of workers in the leisure and hospitality industry make the minimum wage or less, the largest percentage of any industry sector -- predominantly in food services.

Being from Florida, it was more like 50% of the workforce. I may have extrapolated too broadly.
Regardless, it’s a shitload of people.

[Okeefenokee]

Yeah, just limit the numbers to what fits your narrative.

That's sound reasoning.

Meanwhile, largest employment sector is transportation.

Don't you ever stop fucking lying?

[jediuser598]

How many people in this country make less than $15 an hour?

http://fortune.com/2015/04/13/who-makes-15-per-hour/



This as well:

About 20.6 million people (or 30% of all hourly, non-self-employed workers 18 and older) are “near-minimum-wage” workers. We analyzed public-use microdata from the Current Population Survey (the same monthly survey that underpins the BLS’s wage and employment reports), and came up with that estimate of the total number of “near-minimum” U.S. workers – those who make more than the minimum wage in their state but less than $10.10 an hour, and therefore also would benefit if the federal minimum is raised to that amount. The near-minimum-wage workers are young (just under half are 30 or younger), mostly white (76%), and more likely to be female (54%) than male (46%). A majority (56%) have no more than a high-school education.

http://www.pewresearch.org/fact-tank/20 ... imum-wage/

[jediuser598]

Will minimum wage raise the price of things like milk?

Well minimum wage right now is 11.50 in my state. Price of milk was 2.38 last I checked? What's the price of milk for you?