Re:Historical Data of Minimum Wage Increases and Employment ...
by Animats on Sunday June 04, 2017 @04:26PM
(#14483322)
Another effect is that wage increases increase retail spending.
The CEO of Walmart says that their customers are "spent out". They have a metric for this - same-store sales throughout each month. Sales decline week by week after payday, until they're down to necessities by the end of the month.
The US economy is demand-limited - there's plenty of excess production capacity and plenty of available capital, but limited consumer spending.
The CEO of Walmart says that their customers are "spent out". They have a metric for this - same-store sales throughout each month. Sales decline week by week after payday, until they're down to necessities by the end of the month.
The US economy is demand-limited - there's plenty of excess production capacity and plenty of available capital, but limited consumer spending.