Was thinking of buying some McDonald's but think I'll wait to see what happens with this.
Don't get political but what chance do you think this will come to pass?
I think in the long run it will eventually get there... heck, I remember a $1 something minimum wage.... who woulda thunk that it would almost get to $8 back then....
Anyone who understands inflation?I think in the long run it will eventually get there... heck, I remember a $1 something minimum wage.... who woulda thunk that it would almost get to $8 back then....
Agreed. My first job in 1967 paid $1.25/hour in a gas station back when someone pumped the gas, cleaned the windshield, and checked the oil.
According to this calculator that would equal $8.92 now. So $15/hour is a bit much, but perhaps not so in NYC.
Like most negotiations you start off by asking for a lot more than you would be willing to accept.
I also don't think they are going to see $15 any time soon but I think there might be a possibility of an increase in the Federal minimum wage phased in over time.
True. That said, if you make adjustments for employee productivity, depending on your methodology (or spin), you could argue for as much as about $22 per hour. That (IMO) requires some unrealistic assumptions about the global economy and job market, but the average US worker is 2-3x as productive in terms of economic output per hour than they were 40-50 years ago. Yes, much of that is automation, not labor, so it's a bit "out there" to suggest a $20 minimum wage.
Almost any way you look at it, in realistic terms the current $7.25 minimum wage is lower than it's been for at least 50 years. And you could make a reasonable argument that it should be adjusted a little *more* than inflation given productivity and corporate profit growth. But one needs to be careful about asking for too much too soon. The details of that start to get too political to get into.
My first job was as a stock clerk at a drug store in 1983 when I was in college. My starting wage was $3.75 when the minimum was $3.35. By the time I left it for my first "career job" in 1987, I was up to $7.25, where the minimum is today. But there are a lot of different ways to try to peg the current minimum wage to past levels and all of them are considerably more than $7.25 in current dollars. And $3.35 (let alone $3.75) was quite a bit more in 1983 than $7.25 is today.
I go to Midland, Texas fairly often. It's the biggest oil boom in Texas right now. My clients tell me that fast food places in town are paying at least $15/hr to get help. The same goes for Walmart I heard.
Certainly not a national thing, but is situational.
I go to Midland, Texas fairly often. It's the biggest oil boom in Texas right now. My clients tell me that fast food places in town are paying at least $15/hr to get help. The same goes for Walmart I heard.
Certainly not a national thing, but is situational.
I'm pretty sure that this is the idea for the unions supporting this. But I feel that a lot of these folks actually believe that they are worth $15/hr and are entitled to it.
Anyway, this will be interesting to watch and compare to the "Occupy Wallstreet" movement that didn't quite go anywhere.
... That said, if you make adjustments for employee productivity, depending on your methodology (or spin), you could argue for as much as about $22 per hour. ... .
The amount of a worker's wage should be negotiated between the two parties involved: The employer and the employee. Who else knows (and rightly has the standing to dictate) what the labor is worth to those two parties?
Since a lot of union wages are tied to the minimum wage, an increase of the minimum wage would result in an increase in union wages.
I do not think there has been much productivity in fast food over the last 50 or so years.... back then they could get our burgers out pretty fast...