House Committee on Education and Labor

Think All Business Owners Hate the Rising Minimum Wage? Think Again.

30.06.2020 18:27

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Although Coastal's rationale focused on employees, the company has recognized the hallmark rewards of paying employees a living wage: reduced turnover, higher employee engagement and a boost to productivity. This figure gives an indication as to how far the minimum wage has drifted below the average earnings of production workers in manufacturing and non-supervisors in services. Paying for housing is difficult for minimum-wage workers. Get Make It newsletters delivered to your inbox. In fact, some businesses build regular, voluntary wage increases into their budget anyway, whether they operate in a jurisdiction where minimum wages are increasing or not. Small businesses are forced to consider doing the same to recruit much-needed talent for their small business effect on minimum wages positions. As shown in Figure 1the minimum was ignored for nine years over the s, until President George H. Hyperpartisan politics has entered the small business outlook. A poll showed 74 percent of Americans think it should be higher. Thankfully, numerous proposals to raise the minimum are currently small business effect on minimum wages consideration and I speak to these specific proposals link. The last minimum wage increase in increased the earnings of 9. Luckily, paying higher wages doesn't have to small business effect on minimum wages a negative; in fact, it can be a positive. So, will the rising minimum wage hurt small business wake up now business They argue a local, state or federal increase will raise costs for consumers and threaten business owners. As noted, both Senate Democrats and Republicans may soon introduce proposals to increase the minimum wage. And those who forecast a direct hit on their bottom line will wonder if they should make any changes to make up for it.

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This small business owner says increased minimum wage is good for business, time: 1:14