California hikes minimum wage to $20/hr. Workers now make $0/hr

Tsing Tao said:
How is it you can say "maximum" employment? Because if you're going to *gasp* quote the government provided U3 numbers, then it'll just show how little you know about the argument.

You need to look closer into the data, and you need to look at the industries that were affected by the change. Banks, airlines, Tech Companies, etc...none of these cared a whit whether there was a $15 minimum wage.

Then you need to consider how many are no longer counted in the unemployment data because they're not considered unemployed.

More...

Once again you’re being too clever by half and tricking yourself into believing something that is not true to feed your biases. Unemployment is unemployment. Its measure has been constant with minor tweaks here and there. We are currently in maximum employment with very little wiggle room. Which is why wages are going up.
 
Tsing Tao said:
Right, and the people who get the UBI will still whine and complain about not being able to make enough money, ignoring that they're sitting home on their ass doing nothing (or taking to the streets). We reap what we sow.
More...

Im going to warn you ahead of time that what I’m about to say is very likely make you lose your shit.

*Some people are better off on the couch than in the workforce. Whether it’s because their skills don’t match the labor market or the labor market doesn’t make work profitable for them.
 
UsualName said:
Once again you’re being too clever by half and tricking yourself into believing something that is not true to feed your biases. Unemployment is unemployment. Its measure has been constant with minor tweaks here and there. We are currently in maximum employment with very little wiggle room. Which is why wages are going up.
More...

yeah. Exactly. Wages are controlled by the market. A min wage will only curtail employment demand. This is economics 101. Labor demand has elasticity and this is true now more than ever.
 
newwurldmn said:
yeah. Exactly. Wages are controlled by the market. A min wage will only curtail employment demand. This is economics 101. Labor demand has elasticity and this is true now more than ever.
More...

*Minimum wages are controlled by the various states.

There are many economic philosophies and very few actual rules.
 
newwurldmn said:
how many manufacturing jobs are opening up in “low wage” states vs “high wage” ones?

the answer may surprise you.
More...

I am very much aware manufacturing is expanding and much of it in the south. I’m not quite sure we can say there is a full blown migration though.
 
newwurldmn said:
yeah. Exactly. Wages are controlled by the market. A min wage will only curtail employment demand. This is economics 101. Labor demand has elasticity and this is true now more than ever.
More...


Its not a free market when the government/ tax payer is subsidizing low wage employers.
 
UsualName said:
I am very much aware manufacturing is expanding and much of it in the south. I’m not quite sure we can say there is a full blown migration though.
More...

companies are net moving to the south and net expanding to the south. It's probably happening as fast as it reasonably can. Within a generation, i think there will be very little manufacturing in the north. There are many towns in the midwest and in new england where you can see the impacts of that. It's basically meth, poverty and high minimum wages fueled by the big cities nearby.
 
You must log in or register to reply here.
Back
Top