Skip to comments.Raise the minimum wage, we slow hiring: Businesses
Posted on 03/19/2014 12:06:12 PM PDT by xzinsEdited on 03/19/2014 12:09:08 PM PDT by Admin Moderator. [history]
The great division among businesses and economists over the impact of raising the minimum wage rages on. More than half of all businesses who pay minimum wage say they would significantly slow their hiring if the federal wage is raised to $10.10 per hour, according to a new survey from a staffing firm that was cited by The Wall Street Journal.
(Excerpt) Read more at cnbc.com ...
I'm betting that 6 months for an employee is a long time, and a year is an old hand.
So, the plan is to get the same work out of a reduced work force that's still below 30 hours a week due to ObamaCare requirements. They'll be working hard for the 290 dollars a week.
Wonder if they’ll do the same with salaried help that Obama plans to increase overtime pay for.
“Raise the minimum wage, we slow hiring”
Zer0. “That’s the plan!”
If nobody has a job, then the unemployment rate is Zero...if they've gotten discouraged and not looked for a job the past month.
One of the strangest statistics in history is the unemployment rate stat that rewards not having a job as if everyone had a job. Even Orwell would be surprised at that one.
Of course. Any Econ 101 flunky knows that, except of course the demagogues in D.C. Minimum wage is an artificial economic floor that disrupts supply and demand, artificially forcing higher costs and therefore higher prices and less supply of jobs, good, and services. THE MINIMUM WAGE IS A DISASTER and creates poverty like all Socialist programs.
Read the comments and destroy your faith in the nation’s survival.
When the government mandates a minimum wage, or any other form of business expenditure, the effect does not fall solely on hiring and firing.
Any dollar that is now spent on entry level personnel is a dollar not available for:
— adding to the salary of journeyman employees
— adding to the salary of senior employees
— buying new product materials
— improving product materials
— paving the parking lot
— fixing the gutters
— a thousand other things, best decided on
by the owner and management, not the government
It’s part of the plan. Being a third world nation is part of the plan.
“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”
Vladimir Lenin (and most definitely zer0)
Its part of the big Zer0bama conspiracy to destroy out system of government.
“Of course. Any Econ 101 flunky knows that, except of course the demagogues in D.C.”
I did explain that to my macroeconomics prof who was a libtard. It took argument after argument before he finally reneged. What can you do if the entire faculty are a bunch of commie bastards..
Businesses don’t print money, like the government. A business has to make a profit or it’s all a waste.
True marxists think that all businesses exploit their workers, and that they have a lot of money and the government should take it away from them.
If they do that, their best workers will leave and they’ll be stuck with their worst workers.
The correct plan would be to get rid of all their low-performance workers, and hire better workers to get more productivity.
I understand what you’re saying, and you’re right. I was talking about the “sitting administration” being rewarded with a lower rate.
People stuck in jobs they hate will no longer have to work in jobs they hate.
Why do you think attrition causes the best workers to leave?
There is no full-blown commie country yet that permitted people to stay at home on welfare and food stamps.
If the commie bastards win, the “under-privileged” will work or die.
hiring is already nonexistent
Yep. If we go Commie those mandatory farm labor trips to the countryside at harvest time will come as a shock to many.
Value is the key, not a dictated wage control edict from a non-business Government!
The Business goal is to eventually pay an employee by what the proportionate value that they add to that day’s business.
Start an employee at a wage that is scaled to what he is worth to the Business.
Since training the untrained is an expense to a business, the new employee will start by paying the employer for months, if not years, of course.
After training has progressed, apprenticeship status could be purchased by a pay-as-you-go work to earn basis to those few employees who have demonstrated adequate work skills.
At some point, the employee would then be paid what he is worth to the Business.
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