Federal Minimum Wage at $7.25/Hour ? Chart of the Day
2009-07-24 20:01:00 In case you forgot, today, July 24, 2009, the Federal minimum wage goes up to $7.25/hour from last year’s $6.55/hour. Following is a plot of historical Federal minimum wages from 1939 to 2009 (the blue line). In 1939, the minimum wage was only 30 cents. The next adjustment didn’t come until 1945 when the minimum wage ...Original Post on The Sun's Financial Diary Special bonus offers Citi Forward Card 11,000 Bonus ThankYou Points Lending Club $25 Sign Up Bonus Federal Minimum Wage at $7.25/Hour – Chart of the Day Federal Minimum Wage at $7.25/Hour – Chart of the Day
Working for Minimum Wage
2008-09-08 09:37:00 This morning, a bunch of my friends and I were talking about our first jobs. One guy used to work at a service station (back when they provided service), one girl worked at McDonalds, and another girl in a popular retail store. Me? I used to clean classrooms at my high school. Thinking back, I realized that ...
By: An Island Life
The racist past of the minimum wage
2008-06-10 03:26:00 At a 1957 hearing on increasing the minimum wage, a northern U.S. Senator who favored the increase stated: “Of course, having on the market a rather large source of cheap labor depresses wages outside of that group, too—the wages of the white worker who has to compete. And when an employer can substitute a colored worker at a lower wage—and there are, as you pointed out, these hundreds of thousands looking for decent work—it affects the whole wage structure of an area, doesn’t it?” Who was the senator? Here’s a hint: just four years later he was the President. His name: John F. Kennedy. Jonah Goldberg talks about how the minimum wage started as a way to give white workers an advantage in his book, Liberal Fascism. Liberal Fascism: The Secret History of the American Left, From Mussolini to the Politics of Meaning by Jonah Goldberg Anyways, the minimum wage is increasing again in July. It'll probably cause unemployment to go higher a...
By: Asymmetric
Humbolt CA Greens call for $10 minimum wage
2008-05-26 14:51:00 and while I'll agree that this seems like a lot, think about it. That's $400 a week in a 40 hr a week job. That's $20,800 a year, before taxes. Not exactly a king's ransom, but perhaps enough to get by.The fine folks over at High Boltage have all the details.
Russia: What Is Minimum Wage?
2008-05-23 11:19:00 MOSCOW (Moscow News) - The minimum wage per month in the capital (Moscow) is to come to 10, 900 rubles by the end of 2010. Currently the minimum wage in the city is 6,800 rubles. After September 1, it will be 7,500 rubles.Additionally, pensions in the capital are to exceed the cost of living by the end of 2009, Igor Antonov, the chairman of the budget and finance committee of Moscow State Duma, said.---------------------------------------------That in American Dollars: (at exchange of 23.5 rubles per dollar)Per Month:6800 rubles = $290 (now)7500 rubles = $319 (Sept.1st 2008)10,900 rubles = $464 (2010)Kyle & Svetcomments always welcome. Subscribe in a reader
[Unlikely] Great News: 300 minimum wage jobs at an Iowa meat-packing factor
2008-05-13 22:20:00 Reuters
Think Tanks, Clinton Spin, and the Minimum Wage
2008-05-13 17:56:00 The previous post referred to one libertarian writer worth reading, David Friedman. Another worth reading is Megan McArdle. She certainly caught my attention as an honest thinker as opposed to ideologue with her comments on the Laffer Curve and the reaction from the right to criticism. Along a similar vein she writes this about think ...
By: Liberal Values
No Minimum Wage in Malaysia, Yet
2008-05-04 13:42:00 No minimum wage will be introduced in Malaysia pretty soon, in spite of the mounting pressure from the Malaysian Trade Union Congress, MTUC. According to the Prime Minister, Datuk Seri Abdullah Ahmad Badawi, the introduction of a minimum wage ‘requires a thoughtful and careful assessment’. The PM has also raised concern for increase in inflation rate ...
By: Skor Career
Ten Steps To Financial Success For A Minimum Wage Earner
2008-04-28 09:38:00 There’s an individual who comments on The Simple Dollar (and a few other personal finance blogs) who identifies him- or herself as “Minimum Wage.” This person is singularly focused on the issues of low wage earners, and while his/her comments can be frustrating, sometimes Minimum Wage is really effective at pointing out how some advice simply isn’t appropriate for people in that situation. What good is portfolio advice to a minimum wage earner? What good does it do to talk about how to buy a $200K+ house when you’re making $7 an hour? Not much. I know where Minimum Wage is coming from. I grew up in a household with a far below average income, and while we may have done all right for ourselves, I grew up around people who existed in true poverty. Thankfully, I was able to take advantage of the great opportunities that life offered me - and the great foundation that my parents gave me as a person - and was able to find a better, financially healthy life where I could raise ...
What is the Minimum Wage in Malaysia?
2008-04-08 12:36:00 Question: What is the minimum wage of workers in Malaysia? Is there such thing here? Answer: No, there is no minimum wage in Malaysia at the moment. What is a minimum wage? It is defined as the lowest salary rate (could be hourly, daily or monthly) that an employer can legally pay to their workers or employees. ...
By: Skor Career
Our Current Minimum Wage Versus a Living Wage?
2008-03-23 14:24:00 Our Current Minimum Wage Versus a Living Wage? Varying by local rulings and costs of living, our minimum federal wage scale nowhere approaches the living wage estimates which run around $10.00 an hour for a family of four. The latest federal standards: New Federal Minimum Wage: $5.85 - July 24th, 2007 $6.55 - July 24th, ...
Little negative effect seen from Pa.'s higher minimum wage
2008-03-06 00:40:00 From Philly.com, "When Pennsylvania boosted the minimum wage twice in 2007, restaurants, retailers and other business interests groaned. A report issued this week by the state’s Minimum Wage Advisory Board shows why they were worried. Businesses in the leisure, hospitality and retail trade sectors employed two-thirds of all of those making minimum wage in 2007. Business owners complained that increasing the minimum wage from $5.15 to $7.15 per hour would raise their costs, forcing them to cut workers. The increase directly affected 132,800 Pennsylvania workers, or about 4 percent who earn an hourly wage, the advisory board said. It cited census statistics showing a less than 1 percent decline in employment in retail trade and manufacturing shortly after the two wage hikes. However, employment in leisure and hospitality rose by less than 1 percent during the same time period. So call it a wash. Any worry that Pennsylvani...
Little negative effect seen from Pa.'s higher minimum wage
2008-03-06 00:40:00 From Philly.com, "When Pennsylvania boosted the minimum wage twice in 2007, restaurants, retailers and other business interests groaned. A report issued this week by the state???s Minimum Wage Advisory Board shows why they were worried. Businesses in the leisure, hospitality and retail trade sectors employed two-thirds of all of those making minimum wage in 2007. Business owners complained that increasing the minimum wage from $5.15 to $7.15 per hour would raise their costs, forcing them to cut workers. The increase directly affected 132,800 Pennsylvania workers, or about 4 percent who earn an hourly wage, the advisory board said. It cited census statistics showing a less than 1 percent decline in employment in retail trade and manufacturing shortly after the two wage hikes. However, employment in leisure and hospitality rose by less than 1 percent during the same time period. So call it a wash. Any worry that Pennsy...
Market Driven Minimum Wage
2008-03-05 00:43:00 I believe the market should determine the level of employee compensation. An employer is interested in hiring an employee at the lowest possible cost. Conversely, the employee is interested in obtaining employment at the highest possible wage. This conflict results in an equilibrium wage being paid to employees by employers. Basically, ...
By: shyspeak.net
Minimum Wage: Could Government Invent a Worse Idea?
2008-02-08 21:25:00 Society has the noble goal of reducing poverty. In order to reach this goal, do-gooders with no understanding of basic economics enact a law that increases unemployment and the cost of living. In fact, the sponsors of these initiatives are often clueless as to the great harm that they needlessly inflict on society. Ironically, the public continuously votes to institute this masochism year after... Click the Headline Link to Visit Copious Dissent and Read the Full Story.
Minimum Wage Spike
2008-02-01 18:32:00 The Province is considering a report which calls for a large boost to the minimum wage's over the next 8 months. By the end of March it could be increased from the current $7.60 up to $8.10. There would be more increases until October when it would reach the peek of $9.65. In the end there would be a 27% increase by the end of the year. The new rate would allow a single person working full time to make more than the poverty line of $20,000 per year. It only makes sense that any full time employee would make enough to support themselves and not be forced in to finding additional income streams. This large increase does pose a concern for jobs in the province over the long term. Studies have shown that an increase in minimum wage has a negative impact on employment opportunities. Such a large jump could deter lower paying jobs from opening in the future. Still it may be worth the risk. Nova Scotia businesses won't exactly be excited about this proposal, but it does make ...
A thorough review of the real-life effects of minimum wage laws
2008-01-27 18:35:00 In the U.S., the argument tends to be a simple left-right conflict: minimum wages raise the standard of living for the working poor vs. minimum wages cost poor people their jobs. Germany, which is currently considering whether to implement its first-ever minimum wage law, has done a rather more thorough review of the real-life consequences of ...
By: I Call BS!
Malaysia Rejects Indonesian Migrant Workers? Minimum Wage
2008-01-14 00:18:00 The prosperity of Indonesian workers who work in the informal sector in Malaysia apparently will not yet improve.The reason for this is that the Malaysian government still rejects Indonesia's proposal regarding setting the minimum wage for workers in the informal sector.?Because the country doesn't acknowledge a minimum wage system,? said Foreign Affairs Minister Hassan Wirajuda after delivering an annual speech at his office yesterday.The result is, he said, that wages received by Indonesian migrant workers (TKI) are only based on negotiations with employers.Indonesia News Blog: http://indosnesos.blogspot.com-
GMB union calls for minimum wage hike as survey reveals executives earn 714
2007-12-04 11:16:00 Directors and chief executives of major organisations earn an average of 214,000 annually, 714% of the UK average wage of 29,999, according to a GMB
GMB union calls for minimum wage hike as survey reveals executives earn sev
2007-12-04 11:16:00 Directors and chief executives of major organisations earn an average of 214,000 annually, 714% of the UK average wage of 29,999, according to a GMB
How To Become A Millionaire Even If You Only Earn A Minimum Wage
2007-11-23 01:09:00 If you are an employee, you may have the mindset that you can never become a millionaire unless you are a boss,
Jakarta raises minimum wage to Rp 972,604
2007-11-02 12:20:00 The Jakarta administration announced Thursday the monthly minimum wage in 2008 would go up from Rp 900,560 to Rp 972,604 (about US$107), an 8 percent increase."The decision was based on our assumption that Jakarta's economic growth will reach 6.7 percent next year," Governor Fauzi Bowo said at City Hall.A gubernatorial regulation has been issued on the 2008 Jakarta minimum wage."Our second assumption is that 2008's inflation rate, expected at between 6.2 and 6.6 percent, will be slightly higher than 6 percent this year," he said.Inflation in Jakarta reached 17.11 percent in 2005, 6.6 percent in 2006 and 5.24 percent as of October this year, according to the Jakarta Statistics Agency.Indonesia News Blog: http://indosnesos.blogspot.com-
The Leadership debate - IR (un)truth test
2007-10-22 16:12:00 As one might expect, in the leadership debate, Howard made a few claims about the IR "reforms". Lets examine the veracity of some of these claims, remembering of course that one does not need to tell an outright lie to be untruthful. For example, when Howard was asked whether, under his WorkChoices laws employees could ...
By: Talk It Out
National Minimum Wage increase could spell job losses
2007-10-08 18:47:00 Above-earnings increases to the UK's National Minimum Wage (NMW) mean that some firms may have to reduce staff hours and benefits to remain competitive
Torbay Council fined 1,000 for not providing correct national minimum wage
2007-10-03 11:56:00 Torbay Council in Devon has been fined 1,000 for not providing the right national minimum wage (NMW) information to HM Revenue and Customs (HMRC). The council failed to produce the correct records for workers in the park
National minimum wage rise could prevent retailers employing new staff
2007-10-01 11:55:00 Retailers will find it "very difficult" to employ new staff and may be put off hiring altogether as the national minimum wage (NMW) rises again today (1 October),
How To Live on Minimum Wage
2007-09-29 07:09:00 Across thousands of personal finance websites, there are many common themes to be found. One of these is to Live Beneath Your Means Living beneath your means is not always easy. Yet, for most of us, we look at people who make just a little bit more than us and wonder where their problem is. ...
By: Exjackly
Minimum Wage Increase
2007-09-05 00:34:00 "Alberta's minimum wage rose from $7 to $8 this Labour Day long weekend. The raise brings Alberta in line with the provinces of British Columbia, Ontario, Quebec and Manitoba, which all have $8 minimums.The Northwest Territories, Yukon and Nunavut all have slightly higher minimum wages.Minimum wage is lowest in the Maritimes, where it ranges from $7 to $7.50 an hour." Read MoreI don't think this will have much of an impact as less than 1.7% of wage earners in Alberta are earning minimum wage. I hear countless stories of fast food restaurants trawling the teenage customers offering incredible salaries because there just isn't anybody to do the work.
Finger away of the minimum wage - a liberal alternative
2007-08-24 10:52:00 On the shade sides of the minimum wage in the last Blog one reported in detail.But is only halfway constructional a criticism, which does not have improvement suggestions ready. Therefore I would like to present you a liberal alternative, which holds both the market equilibrium in balance and a content guarantees that a willful life makes possible. This alternative calls itself negative income taxes and by the liberal icon Milton Friedman was conceived and for the first time in its work absolutely which can be read capitalism and liberty published.In the model of of the negative income tax becomes an employee, whose content notes the negative income tax below the tax free allowance, which pays difference between its income and the tax free allowance of the state.This model has a large advantage in relation to the minimum wage: the state does not intervene directly into the market happening, which antizipiert unequal-weighty consequences such as unemployment, but places itself by...
By: el-blog.com
Minimum wage worker praises increase in Democratic radio address
2007-08-18 23:35:00 This week a waitress from Raleigh, NC named Fawn Townsend delivered the Democratic radio response to President Bush?s weekly address. Her topic was the minimum wage increase.
Minimum wage hikes stifle skills development according to British Retail Co
2007-08-17 12:30:00 The regular increases to the minimum wage have hindered employers' chances of recognising and rewarding new skills in the workforce, making the government skills pledge hard to achieve, according to the British Retail Consortium (BRC). A study for the BRC carried out by Oxford University has found that as the minimum wage has grown faster than average earnings and productivity, many employers, particularly those that operate in fiercely competitive markets such as retail, have seen their pay structures compressed. The BRC said that while it welcomed the government's skills pledge to improve the skills base of the UK economy, the rapid growth in the national minimum wage was having the opposite effect. The report said: "If the minimum wage continues to grow at its recent average rate, employment will fall and employers will find themselves unable to reward skills, preserve wage differentials and provide valued non-wage benefits." The national minimum wage has been in...
Look, a minimum wage would spur economic activity
2007-08-15 17:54:00 Here’s more evidence to show that a minimum wage can actually keep the economy purring. This time, we go to the United States. San Francisco-based journalist, Dick Meister, a specialist on labour issues, is actually calling on the US administration to raise the minimum wage there to a more decent level. A minimum wage, far from dampening ...
By: anilnetto.com
Minimum Wage Increased
2007-08-12 00:35:00 Minimum Wage Up, Keep Credit Balances DownOn July 24, the Federal minimum wage increased to $5.85, a 9.3% increase over the current minimum wage. An individual working full time earning the new minimum wage, will earn approximately $12,618 annually.After getting an increase in income, many people are compelled to spend more money. Be careful, though, that you don't increase your credit card usage. At that level of income, your "bad debt" payments shouldn't exceed $105 each month and payments for all debt shouldn't exceed $315. Anything over those amounts will put a strain on your monthly budget. I'd even argue that you should keep your debt levels at $0 to stay on the safe side.Remember, bad debt is used to purchase items that go down in value as soon as you purchase or consume it, like clothes, good, cars, and vacation. Good debt is used to purchase items that tend to go up in value, like a home or an education.Taken from http://credit.about.com/.Harrin-e Freeman CEO, H.E. Freem...
Federal Minimum Wage Increased
2007-08-12 00:35:00 On July 24, 2007, the Federal minimum wage increased to $5.85, a 9.3% increase over the current minimum wage. A employee paid the new minimum wage rate working full time will now earn approximately $12,618 annually.
Will a minimum wage drive away investors?
2007-08-08 06:27:00 The MTUC resumes its nation-wide picketing calling for a minimum wage at 5 pm today. I dropped by to check out the demo in Prai during the last picket on 25 June 2007. The turnout - a vocal crowd of close to 1,000 - exceeded the organisers’ most optimistic expectations. A large majority of the ...
By: anilnetto.com
The minimum wage is now $5.85/hr, but what?s the point?
2007-07-28 08:04:00 This week, the first of three annual increases of the federal minimum wage went into effect. It increased seventy cents to $5.85 per hour, the first increase in a decade. One of every forty hourly workers earns this wage, or about 1.9 million workers. The median age is a little less than 25 years old. (More statistics are available here.)These 1.9 million workers are the ones most likely to feel any effects of the minimum wage increase, since their employers are now required to pony up the most extra for them. I have anecdotal evidence (through an acquaintance of my wife) that some are being let go prior to the wage increase. It will likely send quite a few more employees of businesses marginally able to support them packing.For those who do depend on these wages for food and rent, though, does it make a big difference? Assuming that the workers keep their jobs and hours, it makes some difference, but probably not enough to alleviate basic needs. Barbara Ehrenreich?s Nickel ...
By: Technology rules
The myth of minimum wage hikes
2007-07-27 22:21:00 Isn’t it great for people when minimum wage is increased? Last week, the lowest tier in the employment sector saw their wages increased from $5.15 to $5.85. Over the next two summers the minimum wage will increase another $0.70 to $7.25 by July 2009. John Kerry said in a report that: “In fact, the last ...
Minimum wage will increase to $5.85 on July 24 government news
2007-07-27 00:00:00 WASHINGTON ? The U.S. Department of Labor reminds employers and employees that the federal minimum wage will increase to $5.85 on July 24. (...)
Chris Dodd, pauper president? More minimum wage Talk...
2007-07-25 01:27:00 Chris Dodd, pauper president?Chris Dodd is hilarious here. At the CNN You Tube debate last night, he said if president he would not work for the minimum wage. He said this on the grounds that he had 2 daughters he was trying to educate and couldn't live on the minimum wage. That's funny. Saying that a millionaire could not live on the minimum wage for a few years.What may be even more hilarious is the answers other candidates gave. John Edwards, Hillary Clinton, and Barack Obama all said they would. They said they would work for the minimum wage. If (and I say if like I talk about he who shall not be named) one of the three shall be elected president... I will quote them on this. And I hope everyone else will too. Why would we think that a US senator is that kind. They work for more than $1000 a day. A Day!So what have we learned today. John Edwards, Hillary Clinton, and Barack Obama will lie about anything to get elected, and also there really was no right answer to t...
John Edwards supports raising the minimum wage... Again?!
2007-07-25 01:06:00 Edwards Pushes Wage Issue on the StumpJohn Edwards supports raising the minimum wage... Again?! What is happening here?! We just raised it. Thousands of people are going to go unemployed because the minimum wage was raised, and he wants to raise it again?! Doesn't he get it? What next? Will we see him promise to fire one out of every ten Americans just for fun?! This is horrible.The exact wage he wants to raise it to is $9.50 per hour! Per hour! So from $5.85 to... $9.50?! I notice he's not promising to lower congress's insane thousand dollar a day salary. That sure isn't going to happen. I doubt if president he would lower his own wage. So what gives?John Edwards apparently thinks money grows on trees.
Minimum wage rises 70 cents today
2007-07-24 16:10:00 The nationwide minimum wage increased from $5.15 to $5.85 an hour today, in Pennsylvania and New Jersey, the state-required minimum wage is already $7.15 an hour, so todays change does not effect employees in those states. From the AP article, "Minimum-wage workers will get an additional 70-cent-an-hour boost each summer for the next two years, ending in 2009 at $7.25 an hour. That comes to just above $15,000 a year before taxes for a 52-week work year.Now, someone in such a job and earning $5.85 an hour would bring home $12,168 a year before taxes. The federal poverty level for singles is $10,210, couples is $13,690, and $17,170 for families of three."Make sure you are getting paid appropriately!
Minimum wage....
2007-07-24 15:38:00 This morning in celebration of the new federal minimum wage (which oddly enough is still lower than the state minimum wage making the increase moot here) one of the local radio stations hosted calls from people who are currently or used to support a family off a minimum wage salary. Mostly the calls came from people who once made minimum wage, knew someone supporting a family on minimum wage, or single moms going to school. But some of the stories about what people went through to make ends meet are a bit heart wrenching, and it makes you wonder out loud what the hell you spend your own money on to make it hard to live on a family income that is over ten times the amount of minimum wage? Now we have all had our hardships. I used to live in an apartment so small that I could sit on the couch on one wall and simply lean over and turn the channel on the television that was sitting on the opposite wall. You could not open the refrigerator if either of the leafs on the kitchen table w...
By: Coldheartedtruth
'Would you be president for minimum wage?'
2007-07-24 02:57:00 NEW: Obama says he recognizes people's 'urgent need for change' NEW: Clinton says she prefers the label 'progressive' to 'liberal' NEW: Kucinich says he favors reparations to African-Americans for slavery Debate opens with light-hearted look at
By: Get rich
'Would you be president for minimum wage?'
2007-07-24 02:57:00 NEW: Obama says he recognizes people's 'urgent need for change' NEW: Clinton says she prefers the label 'progressive' to 'liberal' NEW: Kucinich says he favors reparations to African-Americans for slavery Debate opens with light-hearted look at
By: Get rich
Minimum wage more effective than NEP equity targets
2007-07-23 17:52:00 The two main prongs of the New Economic Policy are to wipe out poverty across the board and to restructure society so that no one ethnic group is stereotyped with a particular occupation, which in effect largely meant lifting the bumiputera community above the poverty line and into the ranks of the middle class. Now, wouldn’t ...
By: anilnetto.com
Federal Minimum Wage to Rise on Tuesday
2007-07-23 00:00:00 Upcoming Minimum Wage Increase Will Give Boost to Some of Nation’s Poorest Workers WASHINGTON (AP) — Fast-food waitress Fawn Townsend of Raleigh, N.C., knows exactly what she is going to do if her salary goes up with Tuesday’s increase in the federal minimum wage: start saving for a car so she can find a second job ...
By: investment-blog
minimum wage jackets IV
2007-07-05 22:39:00 To continue our fun jacket post, today, we are going to pick out our favorites from Esprit US. Remember, for as little $60 or LESS. Cute Jacket $49.99 Formal suit is out, cute jacket is in right now. What I love about this cute jacket is, it hides my tummy for me. Polka dot jacket $39.99 Polka dot has a come back. Why not using the latest trends on your jacket. esp. a jacket that has a breathtaking price? Love love this jacket. It make you feel like so energized and ready to go. It has active element but still very office wearable.
A truly Minimum wage increase
2007-07-05 15:43:00 The Australian Fair Pay Commission released its July 2007 wage decision (which will come into effect in October 2007). The summary of the decision can be viewed here. The Commission increased the federal minimum wage by a princely amount of 27 cents an hour for the workers on pay scales under $700 per week and ...
By: Talk It Out
minimum wage jackets III
2007-07-04 20:05:00 It's jacket time. We've been talking about decent jacket and coats for girls who is making minimum wage (we all have been there) and want to look decent. So, if you are interested to check out some awesome summer jackets as low as $20s, click here. Or, if you are getting window shopping for fall, these classic styles might be your best bet. And they are only thirty something. Today, we are continuing the hunt... Gap Safari roll-up jacket - moonstone On sale: $49.99 Wanna looking for a chic outfit? This is your safe bet right here. Love the color and heart the style. You can even put a girlie dress underneath that jacket and still look fabulous! Gap Cotton slub coat - blackOn Sale: $39.99 Less is more. Simple three button, clean lines and black & white in color makes you look refreshed and young. |
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