Federal Reserve Says State Minimum Wage Hikes Have Cost Up to 200,000 Jobs

a reply to: the owlbear

The elite was never playing. They had no need to.

a reply to: bonesymphony

Really? I can't believe someone has to answer this for you, but it's because anyone can do the jobs on the bottom end. Often times even a kiosk can perform the job functions of a minimum wage worker in the service industry. Jobs on the top end often require way more than 4 years of undergrad, plus years of experience. It's kinda why young CEO's are so rare.
I went through a Burger King drive-thru the other day. The had a sign taped to the window that said they were having open interviews... and in parenthesis it said "dress to impress." Yeah, because you have to tell kids to not show up to a job interview with butts hanging out of their jeans. Seriously. I hope they DO get the wage hike they want. Then I hope they lose their jobs to more competitive applicants. Then I hope they receive every government benefit they can dream of. Then I hope the system collapses under the stress of their dead weight. Then I hope they starve.

a reply to: neveroddoreven99

I don't think you understand what you're talking about, sorry.
The reason why young CEOs are rare is partially because of the lack of experience, but significantly more so the lack of connections. Reliable success in this day and age is only tangentially related to actual talent.

Anyway, who needs something like "talent" where, if you win the birth lottery, you stand to inherit as much money as a reasonable well-paid (50K a year, after taxes) can hope to amass after 1000 years of work.

It's probably also worth mentioning that saying "I hope they starve" doesn't tend to engender you to other people.

obviously those 200,000 jobs weren`t necessary,i`m not seeing a shortage of automobiles,or hamburgers,or coffee, or anything.
why would an employer eliminate a job position that was necessary just because the minimum wage went up?
if it takes 3 people to run a starbucks coffee shop and they eliminated one of them then coffee wouldn`t get made or supplies wouldn`t get reorder etc.so obviously the jobs that were eliminated weren`t necessary to keep the business going.

a reply to: xuenchen
I wish it would cost them their Jobs. Abolish this Private Bank Nightmare.

Who owns the Fed?
Global Research

Obama taking credit for lower gas prices when he had nothing at all to do with OPEC's decision to lower the already artificially prices crude oil Prices.

But if every thing was artificially inflated we never once saw Milk or other prices come down to match that of oil.

higher wages does cause business to higher fewer workers so that the few they have can get paid and they still cover their own costs.

At all cost the American Business and middle class take it in the end. No pun intended.

Wage increases.

And the FED's printing money out of thin air effectively does the same thing.

The more money in circulation the LESS value it has.

Take money out of circulation. That dollar buys MORE.

originally posted by: Tardacus
obviously those 200,000 jobs weren`t necessary,i`m not seeing a shortage of automobiles,or hamburgers,or coffee, or anything.
why would an employer eliminate a job position that was necessary just because the minimum wage went up?
if it takes 3 people to run a starbucks coffee shop and they eliminated one of them then coffee wouldn`t get made or supplies wouldn`t get reorder etc.so obviously the jobs that were eliminated weren`t necessary to keep the business going.

Many times people are put on part time instead to cut benefits in paying for higher wages. As to reducing employees they replace employees with something else like a kiosk so no need for 3 front workers as example.

originally posted by: ugmold
a reply to: xuenchen
I wish it would cost them their Jobs. Abolish this Private Bank Nightmare.

Who owns the Fed?
Global Research

Interesting isn't it.

Here's the Federal Reserve "ownership" structure according to them...
Who owns the Federal Reserve?


and, here's their list of foreign influences banks operating in the U.S. who are owners of the stock.
Structure Data for the U.S. Offices of Foreign Banking Organizations


and don't forget the Basel Committee that dictates "recommends" policy for most world central banks.
Zee Baazel Kommittee


and here's some info on The Basel Committee from the FED...
FED Basel search

Lets blame people, not corporations. Here's a reality check, if EVERYONE was a skilled laborer, it would be the new minimum wage job. Real world example...construction. It USED to pay very good, now with the influx of illegal labor construction is now a minimum wage temp job.

It's called supply and demand. If there are a lot more skilled workers, there is a lot less demand for them.

Then you might even have your job outsourced if that becomes an issue on payroll.

It's corporations and wall street that are the issue, not unskilled labor.

originally posted by: Eilasvaleleyn
a reply to: neveroddoreven99

I don't think you understand what you're talking about, sorry.

The reason why young CEOs are rare is partially because of the lack of experience, but significantly more so the lack of connections. Reliable success in this day and age is only tangentially related to actual talent.

Anyway, who needs something like "talent" where, if you win the birth lottery, you stand to inherit as much money as a reasonable well-paid (50K a year, after taxes) can hope to amass after 1000 years of work.

It's probably also worth mentioning that saying "I hope they starve" doesn't tend to engender you to other people.

Birth lottery? You really believe that tripe? I was born to a man who had to quit high school to work on the farm when his dad died. He never graduated HS, served in the U.S. Navy during WWII, worked 3 jobs while raising our family in order to put a roof over our heads and food on the table. He worked EVERY Christmas day while I was a kid since it paid extra overtime.

As I grew up, I learned that you need to EARN your way. I suffered, I raised myself up way above his position over the past 30 years. During that time. I had to change my career 3 times as each time I had to train my replacement for the job that was sent overseas (China, Mexico, and recently India). I retrained myself, on my own dime and hard work, sacrificing a lot to get where I am now. That place is a comfortable living in a white collar job. I see the dark clouds on the horizon again, so I am back to school for my masters degree in a field that expects to have 100 job openings for 1 applicant.

Life is not easy. I was in debt for 25 years paying off my original school loans. Now, I will need to do it again. Whomever told you that was not the reality was lying or selling you something.

a reply to: Vector99

Everybody does not have to have a college education to get a good job, especially one with a degree in liberal arts or some other useless piece of paper in useless fields of study.

There are 200,000 welding jobs in America that are unfilled because of a lack of first-class welders. Rick Santorum talked about this the other night and it made a lot of sense. There is no shame in going to a trade or vocational school and learning skills that are in high demand. He said a topnotch first-class welder can make $100,000 per year and more.

a reply to: queenofswords

What happens when 400,000 people become skilled welders? Think the salary will remain at $100,000?

a reply to: Krakatoa

That was primarily a joke about one of the presidential wannabes. A Mr. Donald J Trump.

Life is not easy. I was in debt for 25 years paying off my original school loans. Now, I will need to do it again. Whomever told you that was not the reality was lying or selling you something.

"Life is not easy" is understandable. Maybe even acceptable, as many people desire that challenge to begin with. However, being screwed over for the petty sake of someone who does not know who you are, will not know who you are so long as you live, and would likely not care about you even if they did, is not a thing I am willing to allow. I am aware of the reality, and that reality is what I am fighting to change.

Humanity as a species could be so much more than what we are. This is, hopefully, a step towards that direction.

a reply to: xuenchen

"The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics."

-Thomas Sowell

a reply to: Vector99

I starred you, but I take issue with the last line.

Corporations and Wall Street have nothing to do with the supply of skilled v. unskilled labor in the market place. I will say that if everyone becomes skilled, then they might as well be unskilled for all the difference it makes.

If everyone around you in the pool possesses the same skills you do, then you are back to being unskilled labor.

The point of being skilled is to possess and skill that fewer people have. It makes you a commodity worth having to your employer.

a reply to: ketsuko

Corporations and wall street set the wages, manipulate markets, and go unpunished when they F up. You and I pay for that, or did you forget 07'-08'. How are they NOT the problem?

a reply to: Vector99

It's corporations and wall street that are the issue, not unskilled labor.

Thank you, and your right.

It's the Greed factor, it's about more profits at any cost. Cut labor cost, move industries over seas and by past EPA laws pollute other countries better tax cuts under TTP and so on.

The problem is greed.

originally posted by: Vector99
a reply to: ketsuko

Corporations and wall street set the wages, manipulate markets, and go unpunished when they F up. You and I pay for that, or did you forget 07'-08'. How are they NOT the problem?

Basically, you are linking the supply and demand for skilled and unskilled labor to corporations and Wall Street.

They have little control over what the indigenous labor pool looks like beyond lobbying for loose immigration which IS an issue.

If kids go to school and either don't graduate high school or graduate high school but don't go on to either trade school or college or go on to trade school but not college or all go on to college but none to trade school (or current problem) ... corporate America and Wall Street don't have anything to do with that. Neither do they set the rates of kids who go into which programs and earn which degrees.

Those are all random factors.

So, if you get a glut of underwater basket weavers, then they aren't going to be worth much on the market despite their level of education because there just isn't a demand for them even when no one much goes into that program. And when a lot of kids go into it ... well, they might well make less than burger flippers despite being a degreed job. And at that point, people with those degrees find themselves making designs in the foam on top of lattes at Starbucks. It will pay better and be a more marketable skill.

And that has nothing to do with Starbucks manipulating anything and EVERYTHING to do with the poor choices those kids made about their futures.

a reply to: ketsuko

There is a "norm" that they can count on. It's all statistics. If you think CEO's of large corporations aren't aware of what's coming out of school I have news for you. Why do you think so many IT jobs got shipped overseas. There was a need for IT workers, LOTS of people started going to school for it. It became too expensive to pay American IT workers, hence the shipping overseas.

That is DIRECTLY the fault of a corporation.