Ever since there have been economists, there have been debates between economists about the impact of a minimum wage. Left leaning Quartz looks at a new study that challenges the evidence that minimum-wage hikes are harmless.
– USA Today
A Chick-Fil-A franchisee is “looking for people trying to raise families” who are in search of “long-term opportunity” and he’s willing to commit to a $17/hr starting wage to get the right talent. Even though his wage structure and message run counter to that of most entry level employers, he believes “the community impact is worth it.”
One of the biggest puzzles in economics is why U.S. productivity growth is so sluggish despite low unemployment and record corporate profits. A group of economists say they have an answer: we are in the middle of a gigantic but invisible technological transition.
Very few Americans have enjoyed steadily rising pay beyond inflation over the last couple of decades, a shift from prior years in which the working and middle classes enjoyed broad-based wage gains as the economy expanded. Now, executives of big U.S. companies suggest that the days of most people getting a pay raise are over, and that they also plan to reduce their work forces further.