3 ms·
Sounds like your company runs a pretty marginal business. A worker that is making $10/hr ($20K / year ) now makes $15 / hr or $30K /year doesn't add the $10+K i
by pm24601 10y ago
Sounds like your company runs a pretty marginal business. A worker that is making $10/hr ($20K / year ) now makes $15 / hr or $30K /year doesn't add the $10+K in extra value.
When I hear about companies that are not "adding jobs because of minimum wage", I go back later and look in the news reports.
Invariably:
1. the company was doing badly already and use the minimum wage, tax increases, etc. to excuse their internal business difficulties.
2. the companies competitors are some how immune to the minimum wage increase and those competitors are expanding and hiring,
3. OR the company in question quietly really did hire more people because surprise, surprise, higher pay resulted in more discretionary income to spend and business was up.
- tropo 10y agoIn a properly functioning free market, the company should be doing badly! They might like to earn a nice fat profit, but that isn't what the rest of us like. Competition should get rid of that. Having business difficulties is the expected norm. So point #1 should normally be true, and any change that makes business more difficult should normally cause business failures and resulting job loss.