Movement at the state level to boost the minimum wage next year could give President Obama some much-needed juice in his stalled push to raise the federal minimum and peg it once and for all to inflation.
Seven states are set to raise their minimum wage on Jan. 1 in a move estimated to benefit hundreds of thousands of workers. Despite concerns that government-mandated wages will make skittish employers even more reluctant to hire workers, supporters say the changes are not drastic enough to dent the size of the payroll, and if anything it will help the economy by putting more money in the pockets of those most likely to spend it.
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3 comments:
Not the time it will only add to the distress of all business's at this critical time in this depression.
Since our economy is almost entirely service oriented raising the minimum wage makes sense.
I guess what fires me up on this is that the POTHUS is just playing meaningless politics. As you stated there are 7 states raising the rates next week, there are over 12 states that already are higher then the Federal rate and another 4 that will raise the rates later this year. Some states aready tie the rate to inflations. So whats his point or original thought on this.
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