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Not to forget the times where states raise their minimum wage and see the number of people in the labor force increase. The balance of power is almost always sq
by ianai 6y ago
Not to forget the times where states raise their minimum wage and see the number of people in the labor force increase. The balance of power is almost always squarely weighted on the side of the employer. This can push wages below market optimum.
- sokoloff 6y agoI’d expect minimum wage increases to be mostly off the table during recessions, so it’s not surprising to see them passed during economic expansions, which are tightly linked to rising employment figures, so this might be a "wet streets cause rain" correlation.
- cyrrus 6y agoExcept it’s those on minimum wage that spend most or all of their paycheck stimulating the economy. Middle class have record savings at the moment.