I like that employers are having trouble finding employees cause it's a rare time where the actual value of labor can be discovered without the artificial pressure from minimum wage
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That artificial pressure is just being applied in different ways unfortunately.
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we do have a lot of other things that obscures the real value of labor but I couldn't figure out how to include that in a snappy tweet
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$15/hr is $31,200 before taxes and other deductions. Add in other essential expenses like rent/mortgage, groceries, utilities, gas, car or student loan payment, childcare, etc and it disappears fast.
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It's not hard to spend under 10k/year on housing in smaller cities. Avg groceries is around 4k/year, utilities mebbe 2k/year, gas is 3k/year, and this leaves 12k/year for student loans (hopefully u dont have a lot if you're makin min wage), childcare, and everything else.
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But the minimum wage applies pressure from below, not above. I think you meant to describe a different phenomenon.
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I would think the minimum wage is more a value of a human being. It's a rating of human dignity. We're more than the number of widgets we produce.
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Sorry but the labor market is always in equilibrium. Minimum wage or not. Usually firms do not have to incur search cost potential employees do. Now employers are footing the search costs. This too shall pass.
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