B.C. minimum wage to rise to $10.25 by 2012

[Jacka]

Hopefully they won't cut employee hour....

[Bahhbeehhaaaa]

effect of minimum wage..
-the center dot is were there is NO MINIMUM WAGE ( equilibrium price , most people can find a job if they want to)
-after implementing minimum wage to $3.00 (where the pink line is... )
Surplus - this is the unlucky group of people who will get fired because the business firms's expense is too high.
-DWL = Dead Weight Loss = That area is a lost of productivity of a country .. meaning the country is not producing as much as it used to be.
From an economist point of view ... minimum wage will do no good to a country's productivity.

and please add comments if i'm missing something=D

[Gridlock]

Originally Posted by Bahhbeehhaaaa

effect of minimum wage..
-the center dot is were there is NO MINIMUM WAGE ( equilibrium price , most people can find a job if they want to)
-after implementing minimum wage to $3.00 (where the pink line is... )
Surplus - this is the unlucky group of people who will get fired because the business firms's expense is too high.
-DWL = Dead Weight Loss = That area is a lost of productivity of a country .. meaning the country is not producing as much as it used to be.
From an economist point of view ... minimum wage will do no good to a country's productivity.

and please add comments if i'm missing something=D

Yeah, thats the fundamentals. The whole idea of a minimum wage goes against the idea of a free market economy. BUT-it keeps us from having ghettos of people existing in a perfect free market world of no unemployment, but lots of people making $$25/day.

I don't know..I get the issues with it. They started the training wage idea as a way to make it practical for business which was not popular. We never implemented it when I was managing Subways. You have a 16 year old making $10 hour to drink and party with vs. a single mom trying to provide for a family. One is worthy of minimum wage protections where the other in my mind is not. But then you have a 16 year old working his ass off to pay for school-which gets shafted on a training wage.

I don't think we should be trying to make minimum wage comparable to being a living wage in Vancouver, because you'll never win the race. What type of apartment do I need to set the min.wage to pay for? Nice little 1 bed with a water view work?