it results in either having to batch jobs (ex. the groceries won't be orderred until i need enough to cover the minimum) or overloading jobs (i'll just add it on to the other guy i already pay 15$ an hour)
@icedquinn @clacke @freemo Minimum wage also forces businesses to innovate ways to increase worker productivity. A worker's value isn't just what they bring to the table, it is also what your employer does with you. #economics #econ
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Yup, but that still means the least skilled loose their job.. if your employer can double workers productivity when minimum wage doubles then they fire half, same costs same productivity
So this falls into the categories of arguments why minimum wage results in those who need their jobs the most loosing them.
@freemo @icedquinn @clacke If you have higher productivity, depending on the circumstances, a business may find opportunity to expand. That means employing more of the least skilled because they are now more productive.
right, so first minimum wage kicks in, they fire employees and find ways to make the rest more productive to stay in budget, over time they grow as a company and then maybe can hire some back that were fred.
Meanwhile without minimum wage hikes the company is still motivated to increase productivity and thus increase income but without the budget need to fire anyone. So now when they grow they arent hiring back the people they fired they hiring new people.
now an entire cascade of jobs are gone which previously couldn't even be outsourced.