Politics - Politics Board - Less than 1% of employees ove...
Here are a few other facts about the worthlessness of raising the minimum wage.New data from the Bur...
Published on: Mar 4, 2016
Transcripts - Politics - Politics Board - Less than 1% of employees ove...
PoliticsÂ -Â Politics BoardÂ -Â Less than 1% of employees
Here are a few other facts about the worthlessness of raising the minimum wage.
New data from the Bureau of Labor Statistics reveals some telling information about jobs and the
In 2013, 2.3 percent of all U.S. employees worked at or below the minimum wage.
Of those working at or below minimum wage, 64 percent were under 30, and over half were under
Less than 1 percent of all U.S. employees earned minimum wage or less and were 30 or older.
The majority (63 percent) of those receiving minimum wage or less worked in the food or retail
The food and retail industries also experienced higher than average unemployment rates, at 9.3
percent and 8.4 percent respectively.
So what does this mean? First off, it means that we need more jobs and better jobs. We need jobs
that offer entry-level positions, can employ young people and help them develop a skill, and can
create opportunities to grow within the field and gradually earn a higher pay. The growth of
industries such as manufacturing, telecommunications, home health care and others can do that.
The data also mean that fewer working adults are affected by the minimum wage than the media
have portrayed. This is not to belittle the fact that it does matter to people who are struggling to
make ends meet; of course, it is desirable that everyone get ahead and make enough to pay their
expenses. But let's have a little perspective on this issue.
When it was revealed that about 5 percent of Americans were at risk of losing their health insurance
due to ObamaCare, the White House dismissed them as a small portion of a larger group that was
"better off." By contrast, despite the urgency with which Obama is pushing an increased minimum
wage, an extremely small number of adults over 30 (less than 1 percent) would be affected by
it. How does that make minimum wage a more urgent issue than Obamacare?
Now that we know that the minimum wage affects a small portion of the population, and even Bill
Gates has said that raising it would actually hurt them (and all of us) in the long run by killing job
growth, is the White House's plan really what's best for our country? And a better question, is it
even better for the low-skill, minimum wage worker who won't have a job because we raised it?