The $15 Minimum Wage: Good Or Bad?

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This topic contains 9 replies, has 3 voices, and was last updated by Chaz 10 months, 1 week ago.

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  • #736055 Reply

    Ken Gray
    Keymaster

    I find myself torn about the minimum wage.

    On one hand, it is nice that our marginal workers might be making more money. It might keep those workers off welfare.

    On the other hand, how many jobs will be lost when businesses close because they can’t afford the rather radical hike in wages?

    Will the overall employment pool decline because of this? Accordingly will labour demand decline so overall wages drop?

    I await Andrew Zenner’s response.

    cheers

    kgray

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    #736096 Reply

    Chaz

    It is a phase in (using round numbers) going from $11 to $15. In 40 hours that’s $160 per week. Add in employer’s share of C.P.P. and E.I and some W.S.I.B. premium – you get about $180 per week; $36 per day. Where could the boss save $36 per day and pass that along to an employee? Make tiny changes like decreasing the lighting bill or air conditioning costs by changing light bulbs and raising the temp a tad.

    If your employee is working for you and you are making an income from that labour then the employee should be getting something resembling a living wage.

    I think businesses will adapt. And adaption is a wonderful thing.

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    #736165 Reply

    Ron Benn

    According to the objective analysis of the Financial Accountability Office, we can expect up to 50,000 job losses, predominantly among those who are just starting out in their working careers.

    How is it when the federal Conservatives made decisions they were derided by the Liberals, both federal and provincial, and the mainstream media, for ignoring the evidence, but when the Liberals make a decision without examining the evidence, none of which is new, they are given, for the most part, a free ride?

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    #736167 Reply

    Ken Gray
    Keymaster

    Ron:

    It’s really hard to know.

    Given that all the media is conservative these days save the CBC and The Toronto Star, you wonder why all the Tory pundits aren’t all over this.

    I know small businessmen are terrified of this. The big guys you don’t hear so much from.

    Maybe it is like marijuana. For the most part, the public doesn’t care about legalization except don’t put a pot shop on my street. Maybe legalized dope just fits into the lifestyle of journalists.

    Journalists are a band unto themselves. They travel in packs … except me.

    cheers

    kgray

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    #736169 Reply

    K.A.

    Seattle commissioned a thorough study of its minimum wage increase, which was considered drastic going up to $13/hour, and it did have an impact on income and hours worked on low wage earners.

    More info on the study: https://evans.uw.edu/policy-impact/minimum-wage-study

    Two page overview (pdf): https://evans.uw.edu/sites/default/files/two%20page%20overview.pdf

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    #736168 Reply

    Ron Benn

    One element of the proposed changes that hasn’t received much media attention is the increase in paid vacation time, from 10 days to 15 days after five years of employment. That equates to a 2% (1 week out of 50) increase in compensation, or viewed from the employer’s side of the equation, a 2% increase in compensation expense, assuming that the employer has to “populate” the position for that incremental week.

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    #736199 Reply

    Chaz

    Adapt , adopt or get out of business.

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    #736518 Reply

    The Voter
    Participant

    K.A.,
    None of the studies I’ve seen look beyond the workplace and the internal costs/benefits there.
    They should be taking into account that Mary will spend most of her extra $160 a week in local businesses. As that money circulates in the economy, it cycles through the businesses that are paying the higher wages.
    As people’s incomes increase, they need fewer other services provided for them. Food bank usage will decrease, people will be able to afford better accommodation so the need for housing subsidies goes down, stress levels are reduced so there’s less need for counselling and similar services and when people eat better they have fewer medical needs. All of these will decrease costs for community agencies, governments at all levels and the charitable sector meaning that those freed-up resources can be directed to other community needs. Waiting lists across the board could be reduced which would get appropriate help to people faster.
    None of those items show up directly in the balance sheet of a local small business but a healthier community will lead to lower costs for policing, ambulance, social services and housing. That could change the discussion from which hole in the dike we’re going to plug today to how we have a better dike. As an example, if fewer people were in need of emergency housing and shelters, we could invest that money in building permanent, modest housing with or without supports that would house people with some dignity in the community.

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    #736524 Reply

    Ken Gray
    Keymaster

    The Voter:

    Irrespective of whether or not you agree with your position, this is an outstanding reply.

    The thinking is logical and linear and solid.

    We here in The Bulldog community are lucky to have you but, beyond that, the community at large is fortunate you participate in public policy.

    Thank you.

    kgray

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    #737678 Reply

    Chaz

    Just thought that readers might want to know that the discussion on minimum wage seems to have MOVED over to a topic headed as “Minimum Wage Effects – in Plain Words”
    skoal,
    Chaz

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