Minimum Wage
On July 24 the minimum wage will change from $6.55 to $7.25 and it will of course effect an increase in unemployment. The job loss will fall on those who are young and are just entering the workforce because they are the ones that mostly earn the minimum wage. For those that retain their job it is an improvement in their situation. However, it keeps pressure on business to look closer at their workforce and look for ways to lower payroll costs. There are a number of ways this is done: reduce the workforce, get more out of each worker, obtain labor saving devices, work the better employees on overtime.
If you were running a business what would you do to get your payroll into line with your business plan? Would you raise prices to cover the wage hikes? Or, would you merely absorb the hikes and take less profit from the business. What do you do if you are only breaking even?
posted by Marcel at
3:48 PM
6 Comments:
I would close my business and apply for welfare.
Lets face it, with increasing taxes, cap and trade penalties, health care reform penalties and minimum wage increases a small business does not have a chance to survive. Government is the only growth "industry" in America today.
By
John Beauregard, at 8:24 AM
I have been working very hard to find and land a government job for this exact reason.
By
cheryl, at 6:36 AM
Cheryl, avoid state govs. They are in just as bad a shape as small business. Look into the US Department of Agriculture. Your aunt Monica worked for them in Florida a few years ago. At that time there were 2 USDA employees for each farmer in America. The good news is you work for the fed gov and do not have to move to WDC.
By
John Beauregard, at 1:01 PM
DS Vance - Anyone looking for a US government job should be looking at usajobs.gov
By
Anonymous, at 5:50 PM
That is where I have been looking. I have been checking Dawn's suggested website often.
By
cheryl, at 10:10 AM
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