Lee Duna@lemmy.nz to News@lemmy.worldEnglish · 7 months agoWhy Americans feel gloomy about the economy despite falling inflation and low unemploymentapnews.comexternal-linkmessage-square264fedilinkarrow-up1370arrow-down111
arrow-up1359arrow-down1external-linkWhy Americans feel gloomy about the economy despite falling inflation and low unemploymentapnews.comLee Duna@lemmy.nz to News@lemmy.worldEnglish · 7 months agomessage-square264fedilink
minus-squareMasterBlaster@lemmy.worldlinkfedilinkarrow-up2arrow-down1·7 months agoAnd $7.50 is a pointless figure to use as representative of minimum wage. When established, the minimum wage was equivalent to $26 today, and most states had higher minimums even before they went up to $15.
minus-squareSCB@lemmy.worldlinkfedilinkarrow-up1arrow-down1·7 months agoI think we should tie the minimum wage to local (probably generally county/parish) COL, updated biannually. But the minimum wage currently shapes a miniscule amount of people’s bargaining power.
And $7.50 is a pointless figure to use as representative of minimum wage. When established, the minimum wage was equivalent to $26 today, and most states had higher minimums even before they went up to $15.
I think we should tie the minimum wage to local (probably generally county/parish) COL, updated biannually.
But the minimum wage currently shapes a miniscule amount of people’s bargaining power.