Unemployment has increased for nine months straight, achieving a 26-year high of 9.5% in June, according to the Labor Department.
This will only force struggling businesses to make further job cuts.
Absolutely correct, this also is the first tangible proof of INFLATION ... here we go!
I suspect that most leftists never took microeconomics in college. Too much math, too rigorous. Better to select an elective course which promises to excite the emotions rather one that will exercise and strengthen the pea brain.
Don’t worry, Obama will save all those poor victims of the evil capitalists. He has wonderful unemployment benefits and is going to make some dirt moving jobs.
Union contracts will force “captive companies” to raise all wages based on how much the minimum wage goes up by.
Yep.
But, raising the minimum wage is SOP (standard operating procedure) for the Dems, because they *care* about the "little guy."
Chuckle. One of the Econ profs at Hillsdale College tells the story of how he was involved in presenting (or threatening to introduce) legislation to require raising the minimum wage to something like $100.00 per hour. "Why not?," he inquired with an impish grin.
Why don’t they make it $50 per hour - then everybody will be rich!
“Rubbing salt into the wound” is how I would describe this increase during a recession.
Another "Jobs bill". Great timing.
The businesses that don't close.
The federal government is robbing Peter to pay Paul.
Increase unemployment another point or two.
If anyone doubts that these communists are INTENDING to destroy this country, you need to get your head out of your arse.
Most lower wage people are the ones that benefit form Barry’s policies. They will also take the brunt of job reductions in this minimum wage hike. They need to feel the pain or they will never understand how this wealth transfer affects everyone.
.......This will only force struggling businesses to make further job cuts. .....
The minimum wage increase is a necessary precursor to the coming inflation. A rising tide raises all boats. As the prices rise as a result of too much money chasing too few goods, the wage levels all around must rise.
The minimum wage was constant or near constant for a long time simply because there was no inflation. There was no need for wage rises to keep up with prices. That is different now.
We are in for an inflation that will last the length of time necessary to void the deficit. The deficit will be erased by inflation..... that is the only way
When enough jobs are erased by the current recession, the Mexican invasion will be reversed and if the cities haven’t been burned by riotous urban malcontents, the once undesirable jobs will be taken by real Americans who had better jobs in the good times.
Every time the min wage increases:
Your savings account value decreases.
The cost for everything increases.
If you’re yearly salaried, your paycheck value decreases
If you are paid hourly and it’s over min., the company will not increase your pay accordingly so again, you lose
More businesses will fail especially during hard times like these
If I am not mistaken, many of the contracts with public service unions are indexed to the minimum wage, so raising the minimum wage is in affect a pay increase for union workers.
More wealth redistribution..
I think the worst part of the minimum wage is that it decreases the incentive to improve yourself. If your low wage job isn’t paying you enough, you need to make yourself worth more. Education, training, innovation, working harder, smarter, whatever. Continual raises in the min wage keeps people down in mind-numbing jobs. The minimum wage helps ruin people. But hey, it gives big business a nice, ignorant, complacent labor supply for menial jobs.
Watch the unemployment rate skyrocket to 20% within the next couple of months because of this. Small businesses that are already struggling won’t be able to continue to operate with additional load.
More marginal employee layoffs to follow.
Hmmmmmmm . . . . . . even higher unemployment rates ("With this stimulus bill, unemployment will not go beyond 8%" - Obama) and the normal onslaught of stories about teens and uneducated/undereducated folks who can't find jobs, etc., etc., etc. And, of course, zero will have to raise more taxes to pay more unemployment benefits to the people who lack the knowledge and job skills to get a job paying $7.25.
SMMMMMMMMAAAAAAARRRRRRRRRTTTT, leftists!!