Where’s the discussion about the minimum wage?
Every time I read the news, I read about “Jobs Slashed, Pointing to Recession“;
Employers buffeted by talk of recession slashed 80,000 jobs in March, the most in five years and the third straight month of losses.
At the same time, the national unemployment rate rose from 4.8 percent to 5.1 percent, the clearest signal yet that the economy might already be shrinking.
The new snapshot of the job market, released by the Labor Department Friday, underscored the damage that a trio of crises –in the housing, credit and financial sectors — has inflicted on companies, jobseekers and the economy as a whole.
“The labor market has indeed turned south,” said Joel Naroff, president of Naroff Economic Advisors. “That was the one last bastion of hope to stay out of a recession. Now the question is how deep and how long will it last?”
I read lots of posturing and guess work, but I don’t read any of the news services mentioning the fact that jobs in this country were just fine until Congress raised the minimum wage in July, about the time the job market started getting jittery.
Min Wage
09/01/97__$5.15
07/24/07__$5.85
07/24/08__$6.55
07/24/09__$7.25
John, you are right, a .70 increase trimmed a lot of jobs, and we have two more .70 Job trimming increases coming thanks to the democrats. Do the people that lose their jobs because of the minimum wage increase really who to thank? The MSM would never tell them.
Adjusting the minimum wage down .70 to $4.45 instead would have actually increased employment, and we could help cure the immigration problem at the same time. Now with the .70 increase, the immigration problem will just get worse.
What recession?
I just got hired after two years absence, at a generous increase from anything I ever made before, for a solid company that is continuing to grow, and by the way, has hundreds of jobs available nationwide..yeah – what recession?