The inflation caused by the minimum wage increase will make your purchasing power decrease greatly. If you’re making $25/hr you won’t be getting the same raise as minimum wage high school workers. The only change will be your cost of living going up.
The prices of the goods on all those low wages businesses have been going up forever. 3 soft tacos runs like $8 where I'm at. 9 soft tacos would pay the employee's minimum wage every hour.
The money is there, it's just going to the banks and the landlords or business owners.
Standard inflation is 4% a year and the standard company raise is 3% a year. Most people are losing if their only source of income is through an employer. The math is too simple to go into further detail but spread that out over a lifetime. It’s no wonder companies no longer have “lifers”. They’ll give you a big raise once you tell them you’re taking another job with better pay.
The inflation caused by the minimum wage increase will make your purchasing power decrease greatly. If you’re making $25/hr you won’t be getting the same raise as minimum wage high school workers. The only change will be your cost of living going up.
The prices of the goods on all those low wages businesses have been going up forever. 3 soft tacos runs like $8 where I'm at. 9 soft tacos would pay the employee's minimum wage every hour.
The money is there, it's just going to the banks and the landlords or business owners.
Standard inflation is 4% a year and the standard company raise is 3% a year. Most people are losing if their only source of income is through an employer. The math is too simple to go into further detail but spread that out over a lifetime. It’s no wonder companies no longer have “lifers”. They’ll give you a big raise once you tell them you’re taking another job with better pay.