Re:Labor shortage or terrible jobs?
by karmasimida on Saturday May 01, 2021 @12:29AM
(#27003106)
Even with minimum wages at 15 dollars, it is still hard to say this is a decent job, although this is the already among the highest globally.
The problem lies that the value of assets, especially housing etc, increase much faster than wages can catch up.
Re:Labor shortage or terrible jobs?
by throwawayboise on Saturday May 01, 2021 @03:10AM
(#27004029)
I honestly think that part of the problem is that the older people who make decisions on things like minimum wage remember their own minimum wage jobs. My first job paid $3.35/hr. $15/hr is $30K a year full-time. I barely made more than that at my first professional programming job out of college. It sounds insane to me on first hearing that $15/hr is not "decent" pay for an entry level, non-skilled position.
https://assets.publishing.service.gov.uk/government/uploads/...
> This report includes the findings from a meta-analysis of the empirical UK national minimum wage literature. Similar to a previous UK minimum wage study by de Linde Leonard et al. (2014), this study finds no statistically significant aggregate adverse employment effect of the NMW and also no publication bias in the NMW literature. However, estimates for different sub-groups suggest some relatively larger adverse employment effects for some labour market groups, such as part-time employees.