[dewilson58]

Originally Posted by graciegirl

Only refrigerator magnet we have.

Youngest daughter in her first job. Proud of her then. Proud of her now.

OMG

SO COOL!!

[Rags123]

Originally Posted by dewilson58

Grace shared good data. $7.25 has not been valid for Sam's for a long time. There is some wage difference, but there is also a difference on what the two companies return to their stockholders. I think WMT is running 6% and COST is about 3.5%. (I haven't looked lately)


6.1% "unemployment"..................the world has changed and the old unemployment rate is not valid any more. Need to look at other data points. So many more (at historical highs) not included in the old unemployment calculation are not employed or underemployed.

WalMart is returning a 6% EPS to their stock holders and Costco is at less than 4%. (Just quick numbers from 10,000 feet)

For those who see all issues facing this country in ONLY a political prism, the quoting of the minimum wage for current workers is simply a ploy.

In actual practice only about 2 percent of the current work force earns the minimum wage. Of those less than .3 of 1 percent, as a couple or family, are both under poverty. That means there are a lot of teens earning minimum wage and most are parttime.

Clouding this issue does no good.....income equality is best treated with people going to work.

[janmcn]

Originally Posted by dewilson58

Grace shared good data. $7.25 has not been valid for Sam's for a long time. There is some wage difference, but there is also a difference on what the two companies return to their stockholders. I think WMT is running 6% and COST is about 3.5%. (I haven't looked lately)


6.1% "unemployment"..................the world has changed and the old unemployment rate is not valid any more. Need to look at other data points. So many more (at historical highs) not included in the old unemployment calculation are not employed or underemployed.

WalMart is returning a 6% EPS to their stock holders and Costco is at less than 4%. (Just quick numbers from 10,000 feet)

Do you really think consumers or job seekers really give a hoot what the EPS (whatever that is) to a companies stock holders when they are deciding where to shop or where to seek employment? People are looking for the best value for their dollars (most of the time) or the best place to work to earn a fair wage.

And the unemployment rate is the unemployment rate reported monthly by the Department of Labor. Many working people and people looking for work don't have the time to study the other data points, IMO.

[graciegirl]

[QUOTE=janmcn;933593]Do you really think consumers or job seekers really give a hoot what the EPS (whatever that is) to a companies stock holders when they are deciding where to shop or where to seek employment? People are looking for the best value for their dollars (most of the time) or the best place to work to earn a fair wage.UNQUOTE




No I don't. But it explains how they run their business on this issue that we are discussing, right NOW.

[sunnyatlast]

Originally Posted by Nightengale212

I am a 36 year R.N. living and working in R.I. which healthcare is the largest employer in my state. A significant number of the healthcare work force in my state are "certified" nursing assistants that make in the $15.00 or lower range which their duties are both physically and mentally demanding. If the minimum wage goes to $15.00/hr what happens to these "certified" extremely hard working individuals that are providing the bulk of hands on care in hospitals, nursing homes, and home care ? I'll tell you what will happen, these workers will all say adios to healthcare work because for the same pay it is far easier on the back to flip a burger than flip a patient.

"If the minimum wage goes to $15.00/hr what happens to these "certified" extremely hard working individuals…... these workers will all say adios to healthcare work because for the same pay it is far easier on the back to flip a burger than flip a patient."

Not to mention the mindlessness of flipping a burger!

And not to mention the qualifications and training it takes for a skilled person to step in as a substitute when the nursing assistant is absent due to illness etc. At McD's, ANY body that's breathing behind the counter can step in and flip burgers or wrap them in paper. Not so with SKILLED nursing and technical jobs that pay $15/hour.

Workers should be paid for what they are worth, and many making $7.25 aren't even worth $4. The biggest problem employers of fast-food workers have is just getting them to show up at every shift, much less getting them to produce reliably.

[dewilson58]

Originally Posted by janmcn

Do you really think consumers or job seekers really give a hoot what the EPS (whatever that is) to a companies stock holders when they are deciding where to shop or where to seek employment? People are looking for the best value for their dollars (most of the time) or the best place to work to earn a fair wage.

And the unemployment rate is the unemployment rate reported monthly by the Department of Labor. Many working people and people looking for work don't have the time to study the other data points, IMO.

I don't think it makes seekers hoot. Never said that. The EPS reference was to assist in the confused state of "how do you explain" comment. The EPS is one component to explain how two companies with the same product profile and pricing MIGHT be able to have two different wage structures.

The unemployment rate posted monthly by the DOL.......Yep. Been that way for 60, 70 years......nothing new there. An old governmental agency using an out-dated formula that is not relevant to today's economy.

Never said who or how many people have time to study data, but if people take and use data, they probably should understand it. Current economist and financial professionals advance with the times and use appropriate data and information. Not just was is easy to find in the headlines.

Have a Great Friday!!!

[Bavarian]

Originally Posted by sunnyatlast

"If the minimum wage goes to $15.00/hr what happens to these "certified" extremely hard working individuals…... these workers will all say adios to healthcare work because for the same pay it is far easier on the back to flip a burger than flip a patient."

Not to mention the mindlessness of flipping a burger!

And not to mention the qualifications and training it takes for a skilled person to step in as a substitute when the nursing assistant is absent due to illness etc. At McD's, ANY body that's breathing behind the counter can step in and flip burgers or wrap them in paper. Not so with SKILLED nursing and technical jobs that pay $15/hour.

Workers should be paid for what they are worth, and many making $7.25 aren't even worth $4. The biggest problem employers of fast-food workers have is just getting them to show up at every shift, much less getting them to produce reliably.

You have revealed the true reason for raising the minimum wage to $15./hr. It will cause other wages, such as Nursing Assistants to go up also. They will rightly demand a raise based on now earning same as Minimum wage paid to unskilled entry level jobs flipping burgers or sweeping floors.

[Indydealmaker]

Originally Posted by Bavarian

You have revealed the true reason for raising the minimum wage to $15./hr. It will cause other wages, such as Nursing Assistants to go up also. They will rightly demand a raise based on now earning same as Minimum wage paid to unskilled entry level jobs flipping burgers or sweeping floors.

When the value of anything is artificially inflated, you will find that the resulting ancillary inflation wipes out any of the originally sought benefits.

An employee making $7/hr who is magically lifted to $15/hr will soon find that he is no better off than before.

The economy is a big pie. The Cost of Living will adjust upwards as a result of the artificial manipulation. The rampant inflation around the oil fields of North Dakota is a working example of this theory.

Everybody needs to put aside their hearts for just a moment and do some critical thinking. A job/function is worth only what the employer is willing to pay. This does not devalue the individual employee. Only they can do that to themselves as a result of many poor, ill-advised decisions of their own and their parents.

Arbitrarily paying them more than the job is worth does not magically make the individual more valuable and you will find that water seeks its own level. Many of the characteristics and circumstances that put the employee at the minimum wage level will still exist and they will lose their new found $$ to people with better work ethic who have been forced down by layoffs and job attrition.

Many, many people earning minimum wage have true potential to advance, but they are likely to do so based on their own initiative.

[sunnyatlast]

Originally Posted by Indydealmaker

When the value of anything is artificially inflated, you will find that the resulting ancillary inflation wipes out any of the originally sought benefits.

An employee making $7/hr who is magically lifted to $15/hr will soon find that he is no better off than before.

The economy is a big pie. The Cost of Living will adjust upwards as a result of the artificial manipulation. The rampant inflation around the oil fields of North Dakota is a working example of this theory.

Everybody needs to put aside their hearts for just a moment and do some critical thinking. A job/function is worth only what the employer is willing to pay. This does not devalue the individual employee. Only they can do that to themselves as a result of many poor, ill-advised decisions of their own and their parents.

Arbitrarily paying them more than the job is worth does not magically make the individual more valuable and you will find that water seeks its own level. Many of the characteristics and circumstances that put the employee at the minimum wage level will still exist and they will lose their new found $$ to people with better work ethic who have been forced down by layoffs and job attrition.

Many, many people earning minimum wage have true potential to advance, but they are likely to do so based on their own initiative.

Excellent post!

Here is a link to "Characteristics of Minimum Wage Workers" by the U.S. Bureau of Labor Statistics.

Two of many points shown:

"Minimum wage workers tend to be young. Although workers under age 25 represented only about one-fifth of hourly paid workers, they made up about half of those paid the Federal minimum wage or less.

Among employed teenagers paid by the hour, about 21 percent earned the minimum wage or less, compared with about 3 percent of workers age 25 and over."
----------

"The industry with the highest proportion of workers with hourly wages at or below the federal minimum wage was leisure and hospitality (about 19 percent).

About half of all workers paid at or below the federal minimum wage were employed in this industry, the vast majority in restaurants and other food services. For many of these workers, tips and commissions supplement the hourly wages received."

See full report here:

Characteristics of Minimum Wage Workers: 2012

[Pointer]

Originally Posted by eweissenbach

I see a lot of "I've got mine - up yours" attitude on this issue. There are lazy, unmotivated people working at minimum wage jobs, just as there are in many higher paid occupations. There are also many well educated and well qualified people who have been forced to work minimum wage jobs because their formerly well paid jobs were eliminated and there is a glut of overqualified people looking for work. There are also many single mothers and fathers trying their best to provide for their family and that's the best job available to them. If the lower end of the income is raised it provides more money to purchase goods, generating a multiplier effect in the economy, and less welfare/food stamps, not to mention more tax revenue. A rising tide lifts all ships.

Well said!

[Villages PL]

I'm waiting for someone to invent a robot that can make a really good vegan salad.

[MikeV]

Originally Posted by eweissenbach

Well, I know the local MacDonalds franchisee. He lives in a million dollar home and drives a Mercedes, while his employees are mostly living in poverty and/or on welfare. He deserves to make a nice return on his investment and risk, but it seems to me that there is a little left to go to the people who make him his money. BTW, he seldom is seen in the store.

Are you very sure he gets that standard of living from owning 1 McDonalds Franchise. My bet is he has a lot more that one store in his holdings.

[buggyone]

Some posters seem to be misunderstanding the situation. IF there is a doubling of the minimum wage from $7.50 to $15, it is going to phase in over a few years.

Also, it is not only for McDonald's workers but for a vast number of minimum wage jobs.

Other wages will follow suit and rise also. $15 per hour will become the new $7.50 per hour and other wages will go up accordingly. Of course, prices to consumers will go up. No one is actually a winner.

[dewilson58]

Originally Posted by buggyone

Some posters seem to be misunderstanding the situation. IF there is a doubling of the minimum wage from $7.50 to $15, it is going to phase in over a few years.

Also, it is not only for McDonald's workers but for a vast number of minimum wage jobs.

Other wages will follow suit and rise also. $15 per hour will become the new $7.50 per hour and other wages will go up accordingly. Of course, prices to consumers will go up. No one is actually a winner.

In a nutshell.

[graciegirl]

Originally Posted by eweissenbach

Well, I know the local MacDonalds franchisee. He lives in a million dollar home and drives a Mercedes, while his employees are mostly living in poverty and/or on welfare.(???)He deserves to make a nice return on his investment and risk, but it seems to me that there is a little left to go to the people who make him his money. BTW, he seldom is seen in the store.

Opening a McDonald's: Franchise Costs and Requirements

AND...Even when my kids worked at McDonalds it was hard to know all of the employees economic circumstances. I think that depends on a lot of things. The important thing to me is that they are working.