Los Angeles to raise minimum wage to $15/hour by 2020

[bravelude]

^  Yes when you analyze things, you need to keep some things constant.  A more practical and reasonable approach is to look at your income after taxes and gauge it with median housing prices in Cali vs Texas amongst other things and you'll see.

You need to look at the cost of 'living'.  Income and Expense.

 

[dipsetgeneral]

I am happy for the single mothers, and people struggling that work at lesser accredited work places. With $15 an hour, you can pay bills and rent out an apartment and eventually get transportation for yourself. I am all for this.

I hope you're joking cuz that will not be the case

Why not?

 

[Vincent Van Goat]

How would this effect everyone else making different wages (specifically if you're exempt)? Would everyone get raises too? Have no idea how it works, sorry if it was posted in the article 

 

[youngdoc]

I am happy for the single mothers, and people struggling that work at lesser accredited work places. With $15 an hour, you can pay bills and rent out an apartment and eventually get transportation for yourself. I am all for this.

I hope you're joking cuz that will not be the case

Why not?

LA isn't affordable on that wage.

http://m.la.curbed.com/archives/201...los_angeles_is_unaffordable_on_15_an_hour.php

 

[crcballer55]

 come on CRC...

You're better than this

You know damn well technology, college tuition, the stock markets, and financial vehicles are totally different...

Not to mention it is harder to grow as you get larger...

That's not even close to being fair, bro.

I don't know politics, but I know a little about economics and finance.

And that's not apples to apples

More like apples to burgers

Yes, college tuition is hindering almost EVERYTHING in our current economy. Debt levels have DOUBLED over the past 5 years, yet the answer is lowering interest rates and cutting private lenders? It doesn't matter what the interest rate is if you don't have any debt.

 
http://www.forbes.com/sites/adamhar...performs-reagan-on-jobs-growth-and-investing/
[h1]Obama Outperforms Reagan On Jobs, Growth And Investing[/h1]
Deitrick:  ”President Reagan has long been considered the best modern economic President.  So we compared his performance dealing with the oil-induced recession of the 1980s with that of President Obama and his performance during this ‘Great Recession.’ 

“As this unemployment chart shows, President Obama’s job creation kept unemployment from peaking at as high a level as President Reagan, and promoted people into the workforce faster than President Reagan.

“President Obama has achieved a 6.1% unemployment rate in his sixth year, fully one year faster than President Reagan did.  At this point in his presidency, President Reagan was still struggling with 7.1% unemployment, and he did not reach into the mid-low 6% range for another full year.  So, despite today’s number, the Obama administration has still done considerably better at job creating and reducing unemployment than did the Reagan administration.

Deitrick:  ”While most Americans think they are not involved with the stock market, truthfully they are.  Via their 401K, pension plan and employer savings accounts 2/3 of Americans have a clear vested interest in stock performance.

“As this chart shows, over the first 67 months of their presidencies there is a clear “winner” from an investor’s viewpoint. A dollar invested when Reagan assumed the presidency would have yielded a staggering 190% return.  Such returns were unheard of prior to his leadership.

“However, it is undeniable that President Obama has surpassed the previous president.  Investors have gained a remarkable 220% over the last 5.5 years!  This level of investor growth is unprecedented by any administration, and has proven quite beneficial for everyone.

“The labor participation rate adds in jobless part time workers and those in marginal work situations with those seeking full time work.  This is not a “hidden” unemployment.  It is a measure tracked since 1900  and called ‘U6.’ today by the BLS.

“As this chart shows,  the difference between reported unemployment and all unemployment – including those on the fringe of the workforce – has remained pretty constant since 1994.

While the first chart may be technically accurate for how the BLS tracks employment, Unemployment rates are tracked by those actively seeking jobs. So unemployment doesn't account for those who have simply stopped looking for a job because they've lost hope, or decided to work off the grid.

Here's a chart of the Labor Force Participation Rate for the past decade as Boomers are starting to retire. in Jan 2009 it was 65.7%. Currently as of April 2015 it's 62.8%. With a Millenial population that's larger than the Boomers retiring, that number should actually be stable or growing.

The chart also fails to mention that most of the jobs that were created since the Great Recession have either been low wage entry level positions or government positions.

As for the S&P, for the first time ever in March of 2009, it fell below where it had been 10 years before so there was really nowhere else to go but up. However, markets aren't dictated by any president so it's always been a false nomer to cite that Reagan or Clinton or Bush or Obama created a great stock market. S&P companies are global and Fed rates for borrowing are from an independent agency. The Fed's mandates are to keep unemployment low and the economy healthy.

 

[crcballer55]

http://www.latimes.com/local/lanow/la-me-ln-los-angeles-minimum-wage-unions-20150526-story.html

L.A. labor leaders seek minimum wage exemption for firms with union workers

Labor leaders, who were among the strongest supporters of the citywide minimum wage increase approved last week by the Los Angeles City Council, are advocating last-minute changes to the law that could create an exemption for companies with unionized workforces.

The push to include an exception to the mandated wage increase for companies that let their employees collectively bargain was the latest unexpected detour as the city nears approval of its landmark legislation to raise the minimum wage to$15 an hour by 2020.

For much of the past eight months, labor activists have argued against special considerations for business owners, such as restaurateurs, who said they would have trouble complying with the mandated pay increase.

But Rusty Hicks, who heads the county Federation of Labor and helps lead the Raise the Wage coalition, said Tuesday night that companies with workers represented by unions should have leeway to negotiate a wage below that mandated by the law.

"With a collective bargaining agreement, a business owner and the employees negotiate an agreement that works for them both. The agreement allows each party to prioritize what is important to them," Hicks said in a statement. "This provision gives the parties the option, the freedom, to negotiate that agreement. And that is a good thing."

Coalition representatives said the proposed exemption would ensure the city complies with federal laws which they say give collective bargaining agreements precedence over local ordinances. They also contend that it would keep L.A.'s ordinance consistent with previous city wage laws.

Some business leaders criticized the proposal, however, calling it ironic in light of union leaders' past opposition to special considerations for some employers.

"I'd refer everyone back to the statements of labor leaders over the past seven months that no one deserves a sub-minimum wage," said Ruben Gonzalez, senior vice president for public policy and political affairs with the Los Angeles Area Chamber of Commerce, which opposed the minimum wage increase passed by the City Council.

Gonzalez said the change sought by labor officials could pressure companies into letting employees unionize as a way to seek relief from the mandated wage hike.

"Once again, the soaring rhetoric of helping the working poor is just a cover for city government acting as a tool of organized labor," he said.

The City Council voted last week to gradually increase the hourly minimum wage to $15 over the next five years. Since then, City Atty. Mike Feuer has prepared an ordinance that would put the increases into effect. The council's Economic Development Committee is scheduled to review the language on Friday.

Last fall, the council approved an ordinance increasing the minimum wage at large hotels to $15.37 per hour. That law says that provisions of the hotel wage hike may be waived in workplaces that have collective bargaining agreements.

 

[bravelude]

no jobs. jobs back then and now not the same.  it's obvious manual labor shrinks with technological advancements.  too bad too sad.