To place the federal minimum in perspective, it has been eaten away since 1968, when it peaked in inflation-adjusted terms at $10.15 . In other words, the federal minimum is lower today than it was 50 years ago. The rate has not been raised since 2009, when it was increased from $6.55.
Those figures give the lie to Acosta’s assertion that the wage-increase states are “imposing” their cost structures on the holdouts. There’s little consistency among those states, and plenty of latitude to find a reasonable level somewhere between $15 and $7.25. As it happens, some Democrats have advocated a wage increase keyed to regional standards of living.By any measure, today’s federal minimum wage is historically low. It’s now about one-third of the median full-time wage.
Seattle, moreover, remains one of the fastest-growing labor markets in the country, another trend undermining the case of naysayers.
hiltzikm It’s killing business! (Or we have the lowest unemployment since Jesus worked at McD’s that one summer). Adam Smith is Undefeated since 1776: less restrictions on businesses (Trump) “good”. More restrictions on business (Oboob) “bad”
hiltzikm LA TIMES COMMENT A RESULT OF THEIR BIAS FOR SOCIALIST THOUGHT. YOU OUGHT TO STUDY THE DYNAMIC ECONOMIC IMPLICATIONS OF RAISING THE MINIMUM WAGE ON A WILLY NILLY BASIS
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