While the White House and members of the GOP package the sweeping tax code overhaul as a win for the average American, low-wage workers may be hit the hardest.
This setback comes as the U.S. minimum wage has remained stagnant over the last decade. The last time the federal minimum wage increased was in July 2009, from $6.55 to $7.25. However, now 18 states are taking matters into their own hands, raising the minimum wage, effective January 1, 2018.
Ten states are doing so as the result of legislation over the last few years. Eight states will have smaller inflation-adjusted increases.
4.5 million workers
Left-leaning think tank Economic Policy Institute estimates that the increases will benefit 4.5 million workers. In the absence of Congress raising the wage floor, states and cities are tasking themselves with paying the lowest rung of workers a bit more.
“Increasing the minimum wage is a crucial tool to help stop growing wage inequality, particularly for women and people of color who disproportionately hold minimum wage jobs,” according to EPI economic analyst Janelle Jones.
Though the economy has been humming along, wage growth is lackluster and low-income workers have been disproportionately affected.
“For much of the past three decades, the wages of those at the bottom of the wage distribution have failed to keep up with overall economic gains. Most of the wage increase has occurred among the top half of the wage distribution, especially since the 1990s,” said UMass Amherst economics professor Arindrajit Dube.
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9 comments:
It's a good thing. If small enterprises can't afford to pay labor a living wage then let them do all the work themselves. They seem to think they are doing workers some favor when they could really be doing it all themselves. They think that the borrowed risk is some entitlement
and it is some how entreprenueurial.
College loans and no commensurate jobs available.
3:34 if you think you deserve more than minimum wage then start your own business. Most small business owners start their companies by doing most of the work themselves with their own money.
Depends on the degree. Plenty of STEM jobs available.
334 where the hell are you from? Entitlement town????? If you work for the government, then your opinion means ZIPPY and enjoy your kiosk environment that is coming!
As much money that is in this country, there is no reason to pay the working class $15,00 per hour whether it is part-time or full time. This chump change they are giving ain't poop. Hell the States will raise their local taxes just to steal from federal tax give away which ain't poop.
Well, I guess it is a good deal that the corporate taxes are going down, that way businesses can afford to pay the minimum wage increase without having to fire employees to cover the cost.
Yeah blue collar industrial and factory workers should only get fast food wages too. Who cares what happens to them. They should have gotten an education or moved where there was better work like our grandparents did. They all bitch about no jobs but I don't see them picking up and moving from the security of local family and taking real risks to provide for the families they probably shouldn't have. Real men could work three minimum wage jobs. Cut off the cable stop eating out get a vasectomy LOL and Buck it up.
THANK TRUMP !!!!
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