US inflation means families are spending $709 more per month than two years ago

Re:US inflation means families are spending $709 more per mo... by gruez on Sunday August 13, 2023 @04:00PM (#37113781)

>43% of Ohio voters voted against their own interest last week. Majority of them are in lower side of the income.

What makes you think that raising the minimum wage would be in their interest? A comprehensive study[1] that factored in hours worked found that even though average hourly wage increased, hours worked went down, so total pay actually went down.

[1] https://www.nber.org/papers/w23532

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Re:US inflation means families are spending $709 more per mo... by newhotelowner on Sunday August 13, 2023 @06:39PM (#37115346)

Since that study, pretty much all blue states had significant increase in minimum wage. Even in red states, the minimum wage has gone up and yet unemployment is historically low.

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Re:US inflation means families are spending $709 more per mo... by gruez on Sunday August 13, 2023 @08:28PM (#37116094)

1. If you don't see any problem with this line of reasoning, I invite you to look at the unemployment rate after the Fair Minimum Wage Act of 2007 was passed.

2. Looking at "unemployment" is what the study was specifically trying to avoid, because you could cut someone's hours but keep them on payroll. If you only looked at unemployment figures and average hourly wages, you might conclude that raising the minimum wage was an unalloyed good. However, if you drilled down to hours worked you'd see that they were taking home less per week.

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