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  #1 (permalink)  
Old 25th May 2007, 10:21 AM
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US minimum wage to get $2 boost

The minimum wage in the US is to rise by $2.10 per hour, to $7.25 from its current level of $5.15, the first time it has increased in a decade.

The US Congress voted in favour of the rise, which was attached to a bill funding the Iraq war.

Democrats promised to boost the minimum wage when they won control of Congress in elections in 2006.

The increase will be phased in over a two-year period and will accompanied by tax breaks for small businesses....

http://news.bbc.co.uk/2/hi/business/6690253.stm

Not quite sure how Rick can take the mickey out of rates of pay in China, by UK standards these are virtually third World. Immigrants from Eastern Europe are guaranteed double the current rates and most of them won't work for that even for menial jobs like cleaning. Most of the move into more mainstream employment within a couple of years anyway.

What a vision of western democracy this is. Slavery by any other name!

This will, however, do little to ease inflationary pressures in the US. Increases in minimum rates of pay will have a knock on effect up the ladder.
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Old 25th May 2007, 12:42 PM
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Re: US minimum wage to get $2 boost

A very low percentage of jobs in the US pay $5.15. You can't get labor for much less that $7.00 to $7.50 even for most basic jobs, our low end in this market is $9 and up. The only people I know that get $5.15 are busboys in restaurants (usually high school students) who also get tipped out by the servers.

Most businesses don't object to the minimum wage increase. Where it is heading is basically where the bottom of the pay scale anyway. I think those that object will be in farming and agriculture etc. who use laborers for long hours at a base of $ 5.15 for the first 40 hours and overtime at $7.72 thereafter. The other factor is that workers compensation insurance is a % of payroll, so that can also add up fast since that is probably 7% -12% additonal on total payroll on laborer catagorized jobs.
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Old 25th May 2007, 12:51 PM
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Re: US minimum wage to get $2 boost

Minimum Wage for Adults is UK is £5.35 rising to $5.52 in October. That is $10.61 and $10.95. We of course have employers national insurance contributions to go on top of those amounts.

I doubt anyone works for that in the South East.


Quote:
Originally Posted by bwhhisc
A very low percentage of jobs in the US pay $5.15. You can't get labor for much less that $7.00 to $7.50 even for most basic jobs, our low end in this market is $9 and up. The only people I know that get $5.15 are busboys in restaurants (usually high school students) who also get tipped out by the servers.

Most businesses don't object to the minimum wage increase. Where it is heading is basically where the bottom of the pay scale anyway. I think those that object will be in farming and agriculture etc. who use laborers for long hours at a base of $ 5.15 for the first 40 hours and overtime at $7.72 thereafter. The other factor is that workers compensation insurance is a % of payroll, so that can also add up fast since that is probably 7% -12% additonal on total payroll on laborer catagorized jobs.
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Old 25th May 2007, 05:58 PM
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Re: US minimum wage to get $2 boost

The Fed minimum wage is a joke. Those wages might be paid in alabama but most states like mine are up in the eights already.
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Old 25th May 2007, 06:01 PM
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Re: US minimum wage to get $2 boost

Quote:
Originally Posted by xxbossmanxx
The Fed minimum wage is a joke. Those wages might be paid in alabama but most states like mine are up in the eights already.
Which still leaves you several dollars short of some of the most run down dumps in the UK.
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Old 25th May 2007, 06:44 PM
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Re: US minimum wage to get $2 boost

Ya, dont get me wrong its still low but you cant compare it to the uk where you guys pay what 6 dollars a gallon for gas and your taxes are super high as well correct? Isnt London one of the most expensive places to live in the world?

The top 10 most expensive world cities
Where the cost of living is highest.

City Nation Index (New York is 100)
Oslo Norway 134
Paris France 130
Copenhagen Denmark 126
London United Kingdom 125
Tokyo Japan 124
Osaka Japan 118
Reykjavic Iceland 118
Zurich Switzerland 118
Frankfurt Germany 116
Helsinki Finland 116


Shows here that you better make 25% more in london to break even to NY. Which is very expensive compared to most of the usa

But ya, my day job pays me 15 my night job pays me 20 an hour and it's still not enuf
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Last edited by xxbossmanxx; 25th May 2007 at 06:53 PM..
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Old 25th May 2007, 07:01 PM
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Re: US minimum wage to get $2 boost

Quote:
Originally Posted by Rubber Duck
Which still leaves you several dollars short of some of the most run down dumps in the UK.
The challenges with many US industries are they are simply not 40 hour work weeks, probably the same in the UK. Especially hotel, restaurant and hospitality which we are involved in. Most of our employees work 50-60 hours a week in season, and after the first 40 hours pay is time and a half.

In peak season, most are clocking 70 plus hours which grosses even the lowest paid hourly employees $750 a week. If our base rates were much higher it would probably preclude us from taking the extra business and being able to partially recoup the overtime.

Many big corportions in the the US are commited to being "zero" overtime companies. They simply don't allow it, and managers are penalized for running any O/T. They are the ones that deserve a $ 10 minimum wage IMO.

I like seeing our staff making extra money and overtime, and the extra hours to cover business usually means our company is bringing in more than the extra revenue to cover it. Actually I wouldn't mind seeing minimum wage at $10 if they would hike O/T to start at 48 hours for certain industries and businesses. The law currently favors some industries, which are exempt from overtime, like interstate truck drivers.
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Old 25th May 2007, 07:26 PM
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Re: US minimum wage to get $2 boost

Public service workers get a London weighting on top of their basic wage, so this rate only really applies to the UK outside London.

Quote:
Originally Posted by xxbossmanxx
Ya, dont get me wrong its still low but you cant compare it to the uk where you guys pay what 6 dollars a gallon for gas and your taxes are super high as well correct? Isnt London one of the most expensive places to live in the world?

The top 10 most expensive world cities
Where the cost of living is highest.

City Nation Index (New York is 100)
Oslo Norway 134
Paris France 130
Copenhagen Denmark 126
London United Kingdom 125
Tokyo Japan 124
Osaka Japan 118
Reykjavic Iceland 118
Zurich Switzerland 118
Frankfurt Germany 116
Helsinki Finland 116


Shows here that you better make 25% more in london to break even to NY. Which is very expensive compared to most of the usa

But ya, my day job pays me 15 my night job pays me 20 an hour and it's still not enuf
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Old 25th May 2007, 07:50 PM
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Re: US minimum wage to get $2 boost

Should the comparison be based on post taxes?
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Old 25th May 2007, 09:27 PM
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Re: US minimum wage to get $2 boost

Quote:
Originally Posted by touchring
Should the comparison be based on post taxes?
At that level it is unlikely that you would pay much tax in the UK, indeed those with family will get tax credits to make their money up.
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Old 25th May 2007, 11:53 PM
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Re: US minimum wage to get $2 boost

Quote:
Originally Posted by Rubber Duck
Public service workers get a London weighting on top of their basic wage, so this rate only really applies to the UK outside London.
What are the overtime laws in England. In US it is 1.5 after 40 hours, no limits on hours worked.
ie. $10 per hour straight pay, goes to $15 per hour overtime.

Also, what is the take home percentage of pay for single workers in England.
In US it is probably 78% of every dollar earned. For those with family and kids it goes up.
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Old 26th May 2007, 12:07 AM
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Re: US minimum wage to get $2 boost

Quote:
Originally Posted by bwhhisc
What is the overtime laws in England. In US it is 1.5 after 40 hours.

Also, what is your take home percentage of pay for single workers.
78% of every dollar earned. The more kids you have the higher it goes up.
I tried to explain that if you have a lot of kids you actually get you wages topped up so it often much more than 100%.

Single allowance is £8670 a year. So most single people on minimum wage would only pay income tax on less than one fifth of their salary, so effectively they would be paying about 5 - 6% income tax. There is also National Insurance but at these levels it would not be much, somewhere around 6 or 7 percent I guess. So at the lowest levels even without kids it seems you are more heavily taxed on much lower levels of pay.

Overtime rates vary but a standard week is 37 hours and most people will get increased rates over that but it varies. Nobody is in theory is obliged to work more than 48hrs is theory but many do.
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Old 26th May 2007, 12:59 AM
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Re: US minimum wage to get $2 boost

We have a similar system here called an earned income credit. With this system you can actually keep 100% of your income and even get 10-20% credit back from the gov if your income qualifys etc and you have kids so its the same there. Some of those people keep about 120% of their income as well.

But on the higher end of the scale say if you made 300k a year in the uk isnt the tax insane? I heard it gets over 40%
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Old 26th May 2007, 03:34 AM
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Re: US minimum wage to get $2 boost

http://members.forbes.com/global/200.../030chart.html

The Misery Index: Charts

I think this one is based on top tier income. France wins everyone handsdown with up to 60% personal income tax.

Last edited by touchring; 26th May 2007 at 03:38 AM.. Reason: Automerged Doublepost
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