But I do think that businesses need to make decisions about whether a worker will add value to a firm in excess of what the firm is paying the worker. Milwaukee Public Media is a service of UW-Milwaukee's College of Letters & Science. History of the Minimum Wage. It comes at a cost, in my view, of fewer jobs for the least skilled, least experienced workers. The minimum wage was first developed in the U.S. in 1933. Wages went up by 2.5 percent, compared to a year ago. The bill also proposed a five-member labor standards board which could authorize still higher wages and shorter hours after review of certain cases. But I do think that businesses need to make decisions about whether a worker will add value to a firm in excess of what the firm is paying the worker. I mean, this is something that is happening. And one way is through reduced profits for the owners of businesses. I go into drugstores all the time, and go to an automated cashier. One way is through higher productivity of workers. What do you think the purpose of the minimum wage is? O'Leary: You had this line in a Q&A that I read, which I found completely fascinating, which was businesses want to make money on their workforces. You know especially in the context of you know really large really profitable companies. But I do think that businesses need to make decisions about whether a worker will add value to a firm in excess of what the firm is paying the worker. However, a majority of workers in the state are entitled to be paid at least the state’s minimum wage. Food preparation at 71Above, in Los Angeles, CA. I think, you know, my reading of the evidence is that another way that businesses absorbed the costs of minimum wage increases is through hiring fewer workers. He graduated from Baylor University in 2009 with a Bachelor of Arts degree in political science. This provision aims to abate the effects that a minimum wage has on extremely small businesses, such as home mailing businesses. While minimum wages had been established in other countries, the U.S. found itself in dire straights in terms of economic vitality in 1933. In the Clinton administration, it was decided that in addition to a national minimum wage rate, each state could adopt its own minimum wage rate. Restaurateur Emil Eyvazoff, who owns the restaurant 71Above in downtown Los Angeles, said that this can have big consequences in the world of fine dining, where labor can be a huge expense. This law is meant to protect workers from exploitation by providing them with a base minimum wage. Lizzie O'Leary: They're okay if McDonald's doesn't turn such a huge profit, basically? It's the outcome that a lot of minimum wage supporters hope happens. we heard from two women living on the minimum wage: Tired of waiting for Congress, majority of U.S. states have raised their minimum wage, Wetzel’s Pretzel’s CEO says minimum wage increase boosts business, A new study out of Seattle shows the downside of minimum wage increases, Yelp ratings may be predictor of how restaurants fare after a minimum wage increase. O'Leary: Labor costs, you know, vary significantly by industry, even at the lower end of the wage spectrum. The June job report was, overall, pretty healthy. Same thing at grocery stores. © LaborLawCenter, Inc. 2020. They help ensure a just and equitable share of the fruits of progress to all, and a minimum living wage to all who are employed and in need of such protection. 1. states with minimum wages higher than the federal government's 2. states with statutes which explicitly match the federal minimum wage 3. states without any sort of minimum wage statute (which results in that state's minimum wage automatically matching the minimum wage of the federal government) 4. states which explicitly set out a minimum wage which is lower than the federal government's. In fact, there's a lot happening on the wage front, especially with the minimum wage. But you know, if the choice is, businesses make less profit or businesses hire fewer workers, I would go with the less profit. You know, I went into McDonald's recently, and and for the first time saw that they had some kiosks that were up in the lobby and you could type in your order. The purpose of minimum wage laws is to prevent employers from exploiting desperate workers. And we may not like it, but that's the reality of it. Russell Huebsch has written freelance articles covering a range of topics from basketball to politics in print and online publications.

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