The governor of New York, Governor Cuomo, is urging the New York government to pass $15 minimum wage under their new budget. Cuomo is also rallying support for paid family leave in New York. Non-profit groups and health providers are combatting this minimum wage bump as they would need an increase in state funding to cope with the higher wage requirements. Right wing progressives are pushing back too because they believe this wage hike will hurt businesses, increase costs, and lead to heavy job losses. All parties agree that far more research must be done before a decision is made regarding this issue.
http://www.nydailynews.com/news/politics/cuomo-urges-15-per-hour-minimum-wage-budget-article-1.2565550
Raising the minimum wage is a great idea to improve living standards, but only if it doesn't hurt overall domestic funding, because without funding, raising the minimum wage won't work well. It'll be interesting to see what the final verdict will be.
ReplyDeleteI think that there needs to be gradual increases. The concept of a $15 minimum wage is something that I think is eventually necessary, but changing it this dramatically all at once will have highly detrimental effects especially on businesses, particularly small businesses, that may not be able to afford to pay their employees.
ReplyDeleteThis article is very interesting considering the several other blog posts talking about the automation of several industries. The $15 minimum wage seems a bit unrealistic in my eyes, as most of life-spans of the minimum-wage paying jobs are actively being diminished due to more and more automation from technological advances. Maybe some sort of other compensation may help bridge the gap, but to me $15 seems a bit too excessive right now.
ReplyDeleteThis is very interesting because a lot of jobs in New York (mainly NYC) already have adjusted salaries because of the higher cost of living. Implementing this policy will be interesting to see the effect it has on the local economy.
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