Minimum wage wil always be less than this fandangled thing called a ‘living wage’
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Minimum wage wil always be less than this fandangled thing called a ‘living wage’
Well, if you can solve the old problem of increasing wages without increasing costs, and therefore consumer prices, you will have achieved 2 things.
(1) You will have made wage earners genuinely better off.
(2) You will do something that no-one else has never managed to do.
And once you've achieved that, then double the minimum wage to $40 an hour - imagine how much better off we'd all be! Come to think of it - $100 per hour would be better still.
Yeah $100 an hour seems to be the norm for accountants, sparkies and tradesmen and mechanics these days already.
All people who have studied towards trade qualifications. They should get paid more than your school leaver - significantly more. But what we will now see is a blossoming of labour costs or a retraction on relativities. Which ends up being a disincentive for further study or skill improvement.
Living wage of $20 is still a bit of a joke imo, more of a subsistence..
So many things labour have done this year its hard to keep up. same next year as all the needed reviews of the previous govts neglect bring about action.
Jacinda Ardern’s Child Poverty Reduction Bill passes third reading in Parliament
Yes, worst affected will be businesses that can't pass on costs like exporters > like horticulture many have very thin profit margins and more so lifestyle business sector large lower wage work forces..think we will see many go under>>
Nothing against lifting the min wage(we badly need it) but am much more a fan of free-markets economics ..ie.if businesses don't pay enough then they don't get workers etc...then more successive profitable businesses paying more take the workers etc.,.. but then if the worker don't mind doing the work for whatever reason..........
Under this Govt its all about feel-good policy .. but the bigger picture is continuing gutting of high wage labour jobs(Fishing/Farming/Mining etc) in turn for more min wage tourism operations so I guess this push for $20 min wage makes sense us kiwis lose jobs being paid $30-$50+ph .....
Property Construction will slow down much sooner than anyone expects IMHO then thats going to affect 1-10 Kiwi workers in the pocket very quickly in this very inflationally enviroment
Its starting to happen.REvolt!.France is just the beginning imo. People have had enough , the gap is getting wider in most countries, luckily the govt here is really dedicated to looking after all kiwis and is proactive unlike Macron who has been forced to back down for the first time. Will it save him, i doubt it.