OutInTheRain
kiwifarms.net
- Joined
- May 6, 2022
Raising the minimum wage is always inflationary. Your own wage rises with your productivity and experience or your value to the company. Minimum wage generally means you are a meat robot, entrusted with only simple tasks. Now the skill ceiling for a minimum wage job like a fast food worker, or Wal-Mart stocker is low. Everything is portioned and timed, for Wal-Mart you just have to not steal anything. They are also the end stop for production chains, which means they usually have the thinnest margin. Raising minimum wage means you have to either cut hours or raise prices. Which causes a knock on effect all the way down the supply chain.tbf this is true and part of why there's a huge unemployment in high minimum wage states in the USA like New York and California.
Higher minimum wage is usually a really bad thing in economics and fucks with people who work a couple of dollars above minimum wage as their paychecks don't increase while everything else get's more expensive, aside from youth unemployment. But of course in Canada the main reason for youth unemployment are Indians, that doesn't mean raising minimum wage does no harm though.