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Fed Chair Yellen: Minimum wage hike
to have negative impact on jobs
CNBC, with Reuters ^
Posted on 05/08/2014 4:38:15 PM PDT by Nachum
In testimony before a Senate committee on Thursday, Fed Chair Yellen said a minimum wage increase would likely have some negative effects on jobs, though it´s not clear how large. Still, boosting the federal minimum wage, which has remained at $7.25 per hour since mid-2009, would benefit some people, she added. In recent months, the federal minimum wage has been a hot-button issue. In February, President Barack Obama boosted the minimum pay for federal contractors hired in the future to $10.10 per hour. He´s also voiced his support for the federal level for all workers to rise to $10.10 from
(Excerpt) Read more at cnbc.com ...
TOPICS: Business/Economy; News/Current Events
KEYWORDS: fed; jobs; minimum; yellen
posted on 05/08/2014 4:38:15 PM PDT
posted on 05/08/2014 4:43:48 PM PDT
by Red in Blue PA
(When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
In other news, they sky remains blue, water is still wet.
Still, boosting the federal minimum wage, which has remained at $7.25 per hour since mid-2009, would benefit some people, she added.
Sure, and lowering the age of consent would benefit some people too, but that is not necessarily the basis for good policy.
posted on 05/08/2014 4:46:58 PM PDT
The other day she sounded like a commie
posted on 05/08/2014 4:50:40 PM PDT
(Vote for Conservatives not for Republicans!)
Fed Chair Yellen: Minimum wage hike to have negative impact on jobs...yeah, right - last fall voters in this state in their infinite stupidity voted to raise the minimum wage to something like ten dollars an hour over several years - already this spring we are seeing complaints from businesses along the Jersey shore - summer tourism is our biggest source of income - that they won't be hiring as many workers this summer - usually school kids on summer breaks - because it will be too expensive - and what are the politicians saying? - they want to lower taxes on those businesses so they can afford to continue to hire as many as before - the next step I predict will be to try to raise taxes on "the rich" to balance what was lost via these proposed cuts - one way or another, raising the minimum wage is just one more scam in the campaign to redistribute "wealth"......
boosting the federal minimum wage... would benefit some people, she added...
Yes indeed. Union workers under contracts tied to it.
posted on 05/08/2014 5:15:50 PM PDT
(When people fear government there is tyranny; when government fears people there is liberty)
Does a Bear Poop in the Woods? Are Politicians truly like a diaper, dirty and need to be changed often?
posted on 05/08/2014 5:25:58 PM PDT
(Candor dat viribos alas (sincerity gives wings to strength) and Nil desperandum (never despair))
Memo to: Janet Yellen
Memo from: His Imperial Majesty Comrade El Presidente Caliph Sheik Obama the First Emperor of the Transformed Amerika.
Damn it woman. Stick to the script! Quit sounding like a capitalist. You gave that up to be head of the Federal Reserve. Go make another bubble somewhere so I can blame it on Bush.
posted on 05/08/2014 5:44:02 PM PDT
(Obama told us he would side with Muslims if the political winds shifted in an ugly direction. Ready?)
Tell it to the Dems Janet.
posted on 05/08/2014 5:53:04 PM PDT
by Georgia Girl 2
(The only purpose o f a pistol is to fight your way back to the rifle you should never have dropped.)
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