Archbright’s Post

Wisconsin's minimum wage is the lowest of the surrounding states at just $7.25, with tipped workers earning a meager $2.33 an hour. Meanwhile, neighboring states like Illinois have a minimum wage of $13, and Michigan and Minnesota both have wages above $10. Our latest report, 'Can't Survive on $7.25: Higher Minimum Wages for Wisconsin,' sheds light on the benefits of a higher wage floor and why it's long overdue. Check it out! bit.ly/400LcVo

Kansas became the fourth state in the nation to regulate earned wage access (EWA) as a unique financial product. EWA is an innovative financial technology offering workers much-needed flexibility and control over their earnings. Thank you, Governor Kelly, for your important leadership on this issue, which will impact employers and employees who rely on this important service. Kansas follows the lead of Nevada, Missouri, and Wisconsin in regulating earned wage access at the state level. https://lnkd.in/dCVkyf2A

"Research shop Beacon Economics recently found that California’s minimum wage—up from $11 to $12 an hour in 2019—does particular harm to teenagers. In the past two years, unemployment among 16- to 19-year-olds nearly doubled to 19.2% from 10.8% in California, versus 11.9% from 10.5% nationwide. Higher minimum wages often price teens out of the job market because they have the least skills and experience. Teens then miss out on valuable training and don’t learn important life lessons, such as showing up on time and being courteous to customers. Instead of flipping burgers, more California teens will be flipping through TikTok videos. By the way, last week’s inflation report for June showed that restaurant prices in Los Angeles have risen 2.4% since March, more than double the nationwide increase. Coincidence or another result of the higher minimum wage?"

📣 Raise Virginia's Minimum Wage to $15! 💼💰 In 2020, the Virginia General Assembly took a significant step by increasing the minimum wage from $7.25 to $12 per hour over three years. But here's the catch: we need your support to continue this positive change. The current minimum wage bill requires "reenactment" in the 2024 session to ensure it keeps increasing to $15 per hour. Without this, it will stagnate at $12 per hour. 📉 A jump from $12 to $15 per hour can be life-changing for families, especially considering rising costs due to inflation. It's a crucial step towards economic stability. The good news? Research shows that modest minimum wage increases, like Virginia's plan, don't result in job loss, contrary to some predictions. 📈 Who benefits? EVERYONE working in Virginia! A $15 minimum wage lifts many families out of poverty and supports a more equitable future for all. 🌟 Let's make this positive change happen. Contact your legislators and advocate for a $15 minimum wage. Together, we can build a stronger, fairer Virginia. 🤝💪 #MinimumWage #EconomicEquality #VirginiaProgress https://buff.ly/3TUcGv3

The living wage calculator (© 2024 Dr. Amy K. Glasmeier and the Massachusetts Institute of Technology) shows the hourly rate an individual in a household must earn to support themselves and their family, working full-time, or 2080 hours per year. The tables generated provide living wage estimates for individuals and households with one or two working adults and zero to three children. When using this calculator, one must understand aid and eligibility for federal and local municipality subsidies for lower-income earners. Subsidies can increase household income over a threshold, while taxes can reduce overall household income. Everyone's situation is unique, and this is just a general estimate. The example in the link is a calculation for the Virginia Beach metropolitan area. https://lnkd.in/eWC3PN3x

“Unprecedented wage hikes have unprecedented consequences. [...] California’s business community and its workers deserve better. We need policies that support growth and stability, not ones that jeopardize livelihoods.” Tom Manzo from California Business and Industrial Alliance (CABIA) No doubt that lives have benefitted from the increasing minimum wage in California, but what are the longer-term implications from rising costs, closing businesses, and those impacted by job cuts? CABIA took out a full-page ad in USA Today last week to call out the recent job losses. An increasing minimum wage puts additional financial pressures on businesses, forcing them to adapt to maintain profitable margins. The strong businesses can survive but the weaker ones are more likely to fall victim to closures. What comes next - do owners find new ventures, do workers move to stronger restaurants, switch industries, relocate to other states or remain unemployed? Those answers will tell the full economic story. More info at: https://lnkd.in/e3pN9N7W https://lnkd.in/eJRJWxni

Connecticut's hourly minimum wage increased 4.6% to $15.69. The economic landscape across the US has seen significant changes in recent years, leading to challenges for many people to afford basic necessities like food AND housing. Along with household formation, inflation, and wage stagnation, many are finding it difficult to make ends meet. Even jobs that pay less than the state's median income of $122,897 can be insufficient to cover the cost of living. For instance, in Stamford, a wage of $49.29/hour is required to rent a two-bedroom apartment, which is a significant challenge for many individuals and families. Let's join together to end hunger for our neighbors. https://lnkd.in/eZP5N3c6

Raising minimum wage to 20 dolllars an hour projected to kill jobs and hurt overall economy. Experts estimate 4% of fast food workers will lose their jobs this year. This will raise unemployment rate from 5.3% to 5.5 %. California leads the country in unemployment . CPI jumped 3.3% in February over Feb 2023. Prices rose 7% 2021, 6.5 % 2022, 3.4 % 2023! Comment: Newsom touted what a great thing this was for California to raise minimum wage to the highest in the county by over 5 dollars an hour compared to next highest liberal state. California cannot keep passing anti business laws and laws designed to make selling expensive real estate difficult due to taxes. At some point ,hopefully , people are going to wake up to see what a mess the libs are making of our economy. Remember the deficit of over 60 billion dollars Newsome and his spendthrift policies have reaped . Only way they see out is increasing taxes on what they deem the wealthy.

Last year continued the trend of rising inflation, interest rates, and cost of living increases. With these concerns top of mind, many states continued to increase their #minimumwage rates. Read this new blog post from Tyler Duckett for info about minimum wage increases that took effect at the end of 2023 or the beginning of 2024. https://ow.ly/7TYu50Qn3W6 #employmentlaw

I wonder how the minimum wage increase is going to work out. Small businesses have to cut shifts or make their customers pay the difference to stay profitable. Kids who counted on their jobs for college money are not getting shifts. People tend to not consider unintended consequences. Another example of how SWOT Analysis is needed up front. #minimumwage #swotanalysis #smallbusiness