- Apr 23, 2004
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Fast food workers want national minimum wage to be increased to $15 an hour.
Minimum wage job-the worker with only basic high school education or less, no specialty training, no job experience. Basically the equivalent to a high school student no matter what age.
Adult:
$15 an hour, 40 hours a week, 52 weeks a year=$31,200
$15 an hour, 30 hours a week(to avoid insurance) 52 weeks=$23,400
underage:
$15/hour, 20 hours a week, 52 weeks a year=$15,600
This is the lowest pay an individual should be paid? No education, no experience, no training, no demonstrated work ethic?
Now when the minimum wage goes up, the jobs swollowed up won't usually increase their pay, so everyone becomes minimum wage employees. Few if any above minimum wage will increase, so minimum wage drops everyone on the ladder down towards minimum wage.
Nothing happens in a vaccum, so increased costs per employee means higher costs in the finished product. Some decrease in the pay, of higher ups, might occur but they aren't going to take much of a cut.
So lets look at the increase for a 10 employee store.
7.25/hr, 40 hrs-52 weeks=$15,080, annual wage budget-$150,800
15/hr as above=$31,200, annual wage budget=$312,000
no increase in profit or change in product, increased cost is $161,200
Can't people see the possibility for a huge cut in jobs? Above instance, the budget would allow for 5 employees to continue and that would still add costs, so probably 4 full time employees and 1 part time would be left after the cuts.
--Obamacare will add costs to employ also but lets stay with minimum wage. Feel free to start a thread on costs of Obamacare to employ.--
I saw this:
Majority of Americans want minimum wage to be increased, poll finds - The Washington Post
"O" wants $10.10, not doubling the minimum wage, but still a sizable increase.
annual wages=21008.
(7x21008=147,056)
So in the example above, 7 employees could remain, 3 would have to go.
Minimum wage job-the worker with only basic high school education or less, no specialty training, no job experience. Basically the equivalent to a high school student no matter what age.
Adult:
$15 an hour, 40 hours a week, 52 weeks a year=$31,200
$15 an hour, 30 hours a week(to avoid insurance) 52 weeks=$23,400
underage:
$15/hour, 20 hours a week, 52 weeks a year=$15,600
This is the lowest pay an individual should be paid? No education, no experience, no training, no demonstrated work ethic?
Now when the minimum wage goes up, the jobs swollowed up won't usually increase their pay, so everyone becomes minimum wage employees. Few if any above minimum wage will increase, so minimum wage drops everyone on the ladder down towards minimum wage.
Nothing happens in a vaccum, so increased costs per employee means higher costs in the finished product. Some decrease in the pay, of higher ups, might occur but they aren't going to take much of a cut.
So lets look at the increase for a 10 employee store.
7.25/hr, 40 hrs-52 weeks=$15,080, annual wage budget-$150,800
15/hr as above=$31,200, annual wage budget=$312,000
no increase in profit or change in product, increased cost is $161,200
Can't people see the possibility for a huge cut in jobs? Above instance, the budget would allow for 5 employees to continue and that would still add costs, so probably 4 full time employees and 1 part time would be left after the cuts.
--Obamacare will add costs to employ also but lets stay with minimum wage. Feel free to start a thread on costs of Obamacare to employ.--
I saw this:
Majority of Americans want minimum wage to be increased, poll finds - The Washington Post
"O" wants $10.10, not doubling the minimum wage, but still a sizable increase.
annual wages=21008.
(7x21008=147,056)
So in the example above, 7 employees could remain, 3 would have to go.