News for hackers. Stuff that matters.
Re:Labor shortage or terrible jobs? by kukx on Friday April 30, 2021 @07:06PM (#27000696)
Rising the minimum wage is exactly the thing that should not be done, if one cares about the employment levels. It prices out the least qualified workforce of the market. To put it simply the less able/educated/experienced are not productive enough to cover own costs. So that no one wants to employ them and they are stuck. They start to rely on the government to provide them with resources and it means that have to vote for politicians that promise to keep the free money flowing. It creates a perverse relation between politicians and citizens, which may resemble a dealer addict situation.
Re:Labor shortage or terrible jobs? by tastyfreeze on Friday April 30, 2021 @09:06PM (#27001816)
Oh how I wish this was a more popular view. Minimum wages have a history of exluding a group of people from employment to protect the higher wage earners jobs.

Minimum wage absolutely prices some people out of the job market.

Re:Labor shortage or terrible jobs? by 8note on Friday April 30, 2021 @08:25PM (#27001504)
Realistically, GDP has grown substantially with the owners receiving nearly all the benefits.

Raising the minimum wage is unlikely to affect employment much because of just how profitable companies are today

Mind you I think a better tslternative to a specific minimum wage is to have a guaranteed government job at a specific wage. That sets a bar that all labourers have an option, while some lower paying jobs can still exist if they're otherwise competitive in other experiences

Re:Labor shortage or terrible jobs? by saddlerustle on Friday April 30, 2021 @09:41PM (#27002059)
Corporate profits as a fraction of GDP hasn't changed much.
Re:Labor shortage or terrible jobs? by wonnage on Saturday May 01, 2021 @01:01AM (#27003290)
Just remember that very sane corporation in the US does their very best to realize their profits outside of the US.