Quote:
Originally Posted by jyl
Suppose all the $7.25/hour jobs out there suddenly paid $3.62/hour.
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How or why could that happen? If min. wage laws were abolished (will never happen), there might be some temporary adjustment. But when people quit and businesses feel the sting, wages would go right back up. The reason I made $7 per hour at Wendy's in 1988 was because they forgot to staff up at the beginning of August when all the kids' families went on vacation, pulling the kids out of work and then sending them back to school after Labor Day. They had a sudden exodus and had to fix it immediately by offering double the min. wage. That, of course, pulled workers away from other min. wage jobs to Wendy's (which I'm told was the busiest one in the country then) and forced the other places to also raise their wages to keep workers. Seemed to work pretty well.