Inflation's Impact: $15.00 an Hour Minimum Wage Not Enough for Job-Seekers (user search)
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  Inflation's Impact: $15.00 an Hour Minimum Wage Not Enough for Job-Seekers (search mode)
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Author Topic: Inflation's Impact: $15.00 an Hour Minimum Wage Not Enough for Job-Seekers  (Read 3661 times)
I spent the winter writing songs about getting better
BRTD
Atlas Prophet
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Posts: 113,043
Ukraine


Political Matrix
E: -6.50, S: -6.67

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« on: October 31, 2022, 12:43:53 AM »

Not that I doubt the conclusion too much but this is based on some kind of flawed methodology. It sounds like it's based on online job seekers who are looking for at least $20/hour.

Well of course online job seekers are looking for jobs with higher wages. If you're fine with under $20/hour, you can just walk over to the nearest McDonald's or retail outlet with a "help wanted" sign...don't have to look too for one of those. Why post a resume on Indeed and apply when you can just walk into a store and do a quick application and probably start in a week?
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I spent the winter writing songs about getting better
BRTD
Atlas Prophet
*****
Posts: 113,043
Ukraine


Political Matrix
E: -6.50, S: -6.67

P P
« Reply #1 on: November 03, 2022, 01:44:56 PM »

The #1 driver of inflation hasn't been government stimulus or supply chain issues, it's been a tight labor market that has driven-up wages.

Unskilled workers may be able to demand $20/hour now, but that won't last through the next recession.  Higher minimum wages elongate and weaken job recoveries, for this reason. 

So you think the trillions of free loans/stimulus given out during Covid (a lot of it to people and businesses that didn't need it) and supply chain issues have had no impact on inflation whatsoever? How did you come to that conclusion?
He didn't say they had no impact whatsoever, just that they weren't the #1 driver of it.
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