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The most fundamental problem with minimum wage laws can be illustrated by a quick example of a minimum wage worker employed by a hamburger joint: When that employee is making $5/hr, the cost of a hamburger may be $1. So, when he takes a break, and buys a hamburger for himself, he spends one fifth of his hourly wage to eat. If the minimum wage is raised to say $10/hr, he's now very happy at his doubled income. However, due to increased cost in labor, and cost for production, the hamburger joint has to raise prices accordingly. Labor now costs the company 100% more, so they raise the price of their product by 100%.
Now, when the employee takes a break, and buys a hamburger, he is dismayed to find that same hamburger now costs $2, and is still one fifth of his hourly wage. He thought he was making more money, but the cost of products and services were simply raised to reflect the increased cost to produce.
So, artificial wage controls simply make minimum wage workers think they are making more money, but the cost of all the products and services they need to purchase have increased, and eat up their increased wages. There has been no real improvement. A bit over-simplistic, but this is fundamentally what happens.
What else can I help you with?
Why is minimum wage for NYC different from the federal minimum wage?
New York and New York City both have their own jurisdiction and ability to pass laws in addition to the federal laws.
Which US states do not have a minimum wage?
Louisiana, Mississippi, Alabama, South Carolina, and Tennessee do not have minimum wage laws. This does not mean they do not have minimum wages because there is a federal minimum wage that these states must still enforce. States can only choose to have higher minimum wages than the federal law or have no specific law at all and enforce the federal law.
What is the minimum wage in Utah?
The minimum wage in Utah is $7.25 an hour, and $2.13 an hour for tipped employees pursuant to federal laws.
What is the term for people who expose problems?
Whistleblower, and there are federal laws to protect them.
What is minimum wage under the FLSA?
Under the FLSA, the federal minimum wage is $7.25 per hour effective July 24, 2009 through the present. Thus, employers subject to the provisions of the FLSA may not pay employees at a rate of less than $7.25 per hour for all hours of compensable time worked. However, many of the states have a higher minimum wage (see below). Minimum Wage State Laws In the U.S., approximately half of the states have minimum wage laws that are identical to the federally-mandated minimum wage. And while many states have laws dictating a higher minimum wage than that required under federal law, some states do not. When state minimum wage conflicts with federal minimum wage, such that a state’s mandated minimum wage is higher, employers must comply with both laws. Otherwise, covered employers must comply with the federal minimum wage laws. For Minimum Wage for Each State Click Here.
Does each state have their own Labor Laws or is it the same for the whole country?
Both, actually. To take a familiar example, there is a federal minimum wage, but the Ohio minimum wage is higher than the federal one.
What are the federal laws regarding minimum wage posters?
Federal law requires that employers have minimum wage posters displayed in common areas that are easily accessible and can be viewed by any employee. If your company is in need of a minimum wage poster, contact the state's department of commerce to purchase one.
Enforces the federal laws that set minimum safety and health standards through the Occupational Safety and Health Administration?
Labor
What is the minimum legal barrel length for a rifle in Idaho?
As long as you follow all Federal laws, any length you want.
Does minimum wage apply to minors?
Yes, minimum wage laws apply to minors who are employed. Employers must pay minors at least the minimum wage set by federal or state law, regardless of their age.
Which department deals with minimum wage?
In the United States, the department that primarily deals with minimum wage issues is the Department of Labor (DOL). Within the DOL, the Wage and Hour Division (WHD) is responsible for enforcing federal minimum wage laws under the Fair Labor Standards Act (FLSA). Additionally, state labor departments may also regulate minimum wage laws at the state level, which can sometimes exceed federal standards.
Do employee contracts negate federal overtime laws?
Labor laws cannot be negated by contracts. An employee cannot give up the right to overtime pay or minimum wage.
