Does Minimum Wage Increase Help Or Hurt The Appraisal Business?

[Peter LeQuire]

You will find out if you begin to see them short staffed.

Kroger stores in this area have clerks on their "express" lanes only when the stores are very, very busy (as when milk, bread and TP are flying out the door because of snow warnings) and are increasing the number of self-check registers. You don't have to see Jeff Foxworthy in the parking lot to know what's going on.

 

[Michigan CG]

@Michigan CG

You've shared with us some circumstances regarding your adopted daughter....
If she had fallen through the cracks and not been fortunate enough to have been adopted by a stable family....
Would she have had a major disadvantage as a child and as a teenager and as a young adult and as an adult???

As JG stated some folks start out life with too many obstacles in front of them....

What would my daughters situation have to do with minimum wage?

If she were not removed from her previous situation she most likely would have been taught how to game the system just like her mother did.

 

[Michigan CG]

 

[Randolph Kinney]

Before his election, South Korean President Moon Jae-in aggressively pushed his initiative of increasing the basic wage of South Korea from around $6 to nearly $9.10, by about 50 percent.

In 2018, the Moon administration compromised and officially enforced a nationwide basic wage of $7.36

After the $7.36 per hour basic wage was implemented, businesses simply stopped hiring. Bakeries, cafes, restaurants, and many other companies in a wide range of key industries noticeably cut their workforce sizes.

The consequence has been one of the worst unemployment crisis in the history of South Korea, with over 340,000 college graduates unable to secure jobs.

Seoul Daily, a mainstream media out in South Korea, attributed the rocketing unemployment rates in South Korea to the rising basic wage.

The default and bankruptcy rate of small to medium-size businesses increased, creating a more cautious environment for companies to make new hires and provide long-term jobs.

Recent studies have discovered that a 10 percent rise in the local minimum wage is likely to decrease employment by 3 to 6 percent for millennials and young adults.

Citing various academic research, Niels Veldhuis, the president of Fraser Institute, a non-partisan research and educational organization based in Canada, said that minimum wages increase poverty.

Free money does not exist. When businesses are forced to increase the wages of their employees by large margins, and they simply cannot deal with the rising expenses, they are left with two choices: find ways to decrease the expenses or risk bankruptcy.

In most cases, businesses are forced to cut jobs, employee hours, or other perks, and at the end of it, it puts pressure on both the employees and the companies.

https://www.ccn.com/bernie-sanders-minimum-wage-plan-wont-help-poor-ask-south-korea

Looks good to me, lets jack the minimum wage to $15 an hour.

 

[ucbruin]

The examples of store closings iof 2018/2019 is not due to high minimum wages since that has yet to happen....

But rather to creative destruction and poor management....
That 60's minimum wages would not have prevented their closings....

 

[DTB]

The examples of store closings iof 2018/2019 is not due to high minimum wages since that has yet to happen....

But rather to creative destruction and poor management....
That 60's minimum wages would not have prevented their closings....

...and you expect higher minimum wages to help that situation eh?

Funny thing is that the ills you are ascribe are self inflicted and while less than ideal, they take the risks and get the consequences.

You wish to mandate an additional burden which offers the risk taker no upside benefit. Gee, why are they not jumping for joy?

 

[ucbruin]

...and you expect higher minimum wages to help that situation eh?

Funny thing is that the ills you are ascribe are self inflicted and while less than ideal, they take the risks and get the consequences.

You wish to mandate an additional burden which offers the risk taker no upside benefit. Gee, why are they not jumping for joy?

I guess we'll find out once minimum wages get to $15, since this seems to be the number we are all talking about....

 

[DTB]

I guess we'll find out once minimum wages get to $15, since this seems to be the number we are all talking about....

I got no skin in the game, my rentals are filled w/$10 hour tenants.

 

[Deleted member 128537]

Right now in my area we have a labor shortage. I have talked to more small business people that say they can’t get workers. The latest says the economy only created 30,000 jobs. That’s bogus. That’s how many new people were actually employed. But the number of job openings is far higher. Had we had more qualified workers there would have been far more employed. In my area they are paying $20 an hour for cooks. In the summer they are starting at $15 per hour for a basic laborer.

This is one of the reasons we need to have a good immigration policy. In a growing economy and a labor shortage we need to open up the work visas; especially in critical areas such as farm workers.

 

[DTB]

Right now in my area we have a labor shortage. I have talked to more small business people that say they can’t get workers. The latest says the economy only created 30,000 jobs. That’s bogus. That’s how many new people were actually employed. But the number of job openings is far higher. Had we had more qualified workers there would have been far more employed. In my area they are paying $20 an hour for cooks. In the summer they are starting at $15 per hour for a basic laborer.

This is one of the reasons we need to have a good immigration policy. In a growing economy and a labor shortage we need to open up the work visas; especially in critical areas such as farm workers.

Or a better welfare to work policy.

Still too many bums on the dole for my liking.