Politics - Politics Board - Less than 1% of employees
ove...
Here are a few other facts about the worthlessness of rai...
of 1

Politics - Politics Board - Less than 1% of employees ove...

Here are a few other facts about the worthlessness of raising the minimum wage.New data from the Bur...
Published on: Mar 4, 2016
Source: www.slideshare.net


Transcripts - Politics - Politics Board - Less than 1% of employees ove...

  • 1. Politics - Politics Board - Less than 1% of employees ove... Here are a few other facts about the worthlessness of raising the minimum wage. New data from the Bureau of Labor Statistics reveals some telling information about jobs and the minimum wage: In 2013, 2.3 percent of all U.S. employees worked at or below the minimum wage. Of those working at or below minimum wage, 64 percent were under 30, and over half were under 25. Less than 1 percent of all U.S. employees earned minimum wage or less and were 30 or older. The majority (63 percent) of those receiving minimum wage or less worked in the food or retail industries. The food and retail industries also experienced higher than average unemployment rates, at 9.3 percent and 8.4 percent respectively. So what does this mean? First off, it means that we need more jobs and better jobs. We need jobs that offer entry-level positions, can employ young people and help them develop a skill, and can create opportunities to grow within the field and gradually earn a higher pay. The growth of industries such as manufacturing, telecommunications, home health care and others can do that. The data also mean that fewer working adults are affected by the minimum wage than the media have portrayed. This is not to belittle the fact that it does matter to people who are struggling to make ends meet; of course, it is desirable that everyone get ahead and make enough to pay their expenses. But let's have a little perspective on this issue. When it was revealed that about 5 percent of Americans were at risk of losing their health insurance due to ObamaCare, the White House dismissed them as a small portion of a larger group that was "better off." By contrast, despite the urgency with which Obama is pushing an increased minimum wage, an extremely small number of adults over 30 (less than 1 percent) would be affected by it. How does that make minimum wage a more urgent issue than Obamacare? Now that we know that the minimum wage affects a small portion of the population, and even Bill Gates has said that raising it would actually hurt them (and all of us) in the long run by killing job growth, is the White House's plan really what's best for our country? And a better question, is it even better for the low-skill, minimum wage worker who won't have a job because we raised it? http://forums.abcnews.go.com/discussions/Politics/_/_/abcpolitics/440500.1

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