Only 2% of hourly workers are at minimum wage. Of that 2%, about half are between the ages of 16 and 24. Of that 2%, about 30% are working full-time (40 hours) or more. Minimum wage jobs are mostly held by younger people who are starting their careers and working part time.
Minimum wage jobs are primarily entry level jobs and, as such, represent the beginning of a career. Most people don't stay at those low pay jobs for very long; they move up quickly.
A CBO study estimates that changing the Federal minimum wage to $15 per hour in 2025 would increase the wages of about 17 million people but 1.3 million would become jobless. There are consequences, perhaps many unintended consequences, when the Government decides what labor is worth as opposed to letting free market dynamics establish the worth of labor.
Quote:
Originally Posted by ruralgoddess
While $15 may seem exorbitant to some, consider what that means for someone working a 40 hour week:
40 hours x $15 = $600/week before withholding
So your monthly gross income would be
$2400 before withholding.
Think long and hard about that meagre amount.
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