Supply and Demand Does a Poor Job of Explaining Depressed Wages

Re:Supply and Demand Does a Poor Job of Explaining Depressed... by adventured on Friday April 06, 2018 @01:36PM (#16775282)

The overall median wage is misleading.

The median full-time wage is $50,000 per year. That's closer to $25 per hour.

If you include an 18 or 70 year old working a part-time job, you'll dramatically reduce that median income and present a false picture of true labor earning potential.

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Re:Supply and Demand Does a Poor Job of Explaining Depressed... by readams on Friday April 06, 2018 @02:03PM (#16775632)

You've confused mean and median there, but the point I was making is that a $15 minimum in Santa Clara county, with a median wage of $29.20 will have a far different impact than in Fresno with a median wage of $16.10. And that's just in California.

This about the impact of a minimum that affects nearly HALF of all workers in an area. It's absurd to think that this will not cause serious disemployment effects.

(Nationally, median hourly wage is $18.12)

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