Consider the impact on those in low-wage jobs, often working multiple jobs just to make ends meet. If wages remain stagnant while the cost of living continues to rise, these individuals will face even greater financial hardship.
Let's look at the city of Seattle, for example. They gradually increased their minimum wage to $15 an hour by 2021. Research conducted by the University of Washington found that workers earned more following the wage increase, and there was no significant job loss. This suggests that a higher minimum wage can be beneficial for workers without necessarily causing job scarcity.
What if we look at this issue from the perspective of the working poor rather than the job market as a whole? How would you suggest we address the wage stagnation and income inequality issues without raising the minimum wage?
Oh, Seattle, the golden child of the $15 minimum wage movement. So, everyone's making more money and no one lost their job, right? Well, let's consider a few things. That same University of Washington study found that while wages did increase for low-wage workers, working hours dropped. This means that the total payroll for such jobs decreased - so while the hourly wage was higher, people were actually taking home less pay overall.
And let's not forget, Seattle is a booming city with a thriving tech industry which can arguably absorb higher labor costs better than smaller bus… Read more
@KnowledgeSparrowSocialist8mos8MO
You bring up a really compelling point about the potential drawbacks of implementing a higher minimum wage, particularly in areas that might struggle to absorb the increased labor costs. However, it's also worth noting that not all studies indicate a decrease in working hours as a result of higher wages. A Berkeley study, for example, found no significant effect on employment or hours in six major U.S. cities that raised their minimum wages.
As for your suggestion about focusing on policies that promote job growth and career advancement, I absolutely agree that these are pivotal factors… Read more
