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The only way to boost wages is to boost worker productivity.
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As part of his $1.9 trillion relief plan, President Joe Biden proposes to double the federal minimum wage from $7.25 per hour to $15 per hour.
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Hobby Lobby is raising the minimum wage for its full-time workers to $17 an hour ahead of the holiday season. The arts-and-crafts chain will implement the permanent raise Oct. 1, making it the latest big retailer to increase staffers’ pay amid the coronavirus pandemic. The Oklahoma-based company said it last hiked its minimum full-time wage …
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Read More: Target walks back forecast, will focus on supplying essentials during coronavirus outbreak Costco, Target see foot traffic drop after coronavirus stockpiling boom Target online sales surge, but rising coronavirus costs may hurt profits Americans use their stimulus checks to splurge at Walmart, Target and Best Buy
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One of the greatest takedowns of the minimum wage you’ll ever find comes from an unlikely place. The minimum wage is the Jason Vorhees of economics. It just won’t die. No matter how many jobs the minimum wage destroys, no matter how many times you debunk it, it always comes back to wreak more havoc. …
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Employees don’t magically become more productive because businesses have to pay them more, so they need to make up the losses elsewhere. Both in Canada and in the U.S., many jurisdictions have “listened” to the people and enacted feel-good legislation like increasing the minimum wage, sometimes up to $15 an hour. Now that the consequences …
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COVID-19 is wreaking havoc on American jobs. State shutdowns and social distancing have resulted in 26 million people being laid off and furloughed. Policymakers in some states are starting to loosen business restrictions and are hoping for a strong jobs recovery. But a quick rebound in jobs will be undermined by government policies. The federal government has …
The only way to boost wages is to boost worker productivity.
