lecture14_Oct24 (1)

lecture14_Oct24 (1) - Minimum Wage and Living Wage...

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Unformatted text preview: Minimum Wage and Living Wage Arguments for/against a minimum wage What are the reasons to support a minimum wage (or to support increasing the minimum wage)? What are the reasons to oppose a minimum wage (or to oppose increasing the minimum wage)? Federal minimum wage Current = $7.25/hour Who receives the minimum wage? are less than age 25 are age 16 to 19 2.3% of all hourly workers receive minimum wage or less Some of the workers who are not covered Tipped ($2.13 minimum) Student learners (vocational programs) Workers with disabilities Full-time students Several states have set minimum wages that are higher than the federal minimum. State Minimum Wage Laws (2010) State minimum wage laws GREEN State > federal BLUE State = federal RED State < federal YELLOW No state min. wage Fighting poverty with the minimum wage: Income of full-time, full-year worker at minimum wage relative to poverty line for family of 4 Fighting poverty with the minimum wage: Estimated distribution of raising the minimum wage from $7.25/hr to $9.50/hr Living Wage Laws...
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lecture14_Oct24 (1) - Minimum Wage and Living Wage...

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