Silver as an investment

Category Archives: minimum wage

David Stockman Lashes Out At Mainstream Media’s “Peak Fantasy Time”

Authored by David Stockman via Contra Corner blog, If you want to know why both Wall Street and Washington are so delusional about America's baleful economic predicament, just consider this morsel from yesterday's Wall Street Journal on the purportedly awesome November jobs report. Wages rose just 2.5% from a year earlier in November – near the same lackluster […]

Uber UK Ops In Peril After Losing Appeal Of Employment-Tribunal Ruling

This certainly doesn’t bode well for Uber’s prospects in the UK, it’s largest European market. The ride-share giant suffered its latest serious setback, when its appeal of an unfavorable employment tribunal ruling was thrown out on Friday, increasing the possibility that Uber might be forced to pay its drivers in holiday pay and the minimum […]

UK Retail Employment Plunges Most Since 2008 As Retail Sales Crash

Yesterday we noted the surge in cable following the stronger-than-expected Q3 GDP print of 0.4% Q/Q, above the 0.3% estimate. Afterwards, the market was calculating an 87% chance that the BoE would hike next week. Brown Brothers commented that: The case against a hike is that inflation appears poised to peak shortly, the economy is […]

San Franciscans Pissed To Learn Their Liberal Policies Caused A Wave Of Restaurant Failures

In a note that we’ll file away under the definition of ‘irony’, Bloomberg wrote today that the fun-loving, free-spirited socialists of San Francisco are suddenly really pissed off that their liberal economic policies have resulted in a wave of restaurant failures, making it nearly impossible to find good food at an ‘affordable’ price.  We would […]

Paul Craig Roberts Warns Americans: “Oligarchic Rule Prevails Regardless Of Electoral Outcomes”

Authored by Paul Craig Roberts, Do the Wall Street Journal’s editorial page editors read their own newspaper? The frontpage headline story for the Labor Day weekend was “Low Wage Growth Challenges Fed.” Despite an alleged 4.4% unemployment rate, which is full employment, there is no real growth in wages. The front page story pointed out […]

Home Prices In 80% Of US Cities Grow Twice Faster Than Wages… And Then There’s Seattle

According to the latest BLS data, average hourly wages for all US workers rose 2.5% relative to the previous year, well below the Fed’s “target” of 3.5-4.5%, as countless economists are unable to explain how 4.3% unemployment, and “no slack” in the economy fails to boost wage growth. Another problem with tepid wage growth, in […]

Study Finds Higher Min. Wages Bring Crushing Job Losses For Female And Minority Workers

Anyone who has a basic understanding of elementary-level arithmetic and some common sense can easily explain why raising the minimum wage is bad for employment levels.  In a nutshell, higher labor costs simply improve the payback profile of capital investments in technology thus accelerating job losses. We recently shared the following example regarding California’s minimum […]

July Payrolls Preview: Smooth Sailing But Watch Out For Cars

At 8:30am on Friday, the BLS is expected to announce that in July the US created 180K jobs, down from 222K in June though still in line with the 6-month average of 180K, with the biggest downside risk a slowdown in durable manufacturing payrolls as auto production slumped. Sellside expectations: UBS: 175K Barclays: 175K HSBC: […]

Missouri Legislature Reverses St. Louis Minimum-Wage Hike

A week ago, we reported on a study from the University of Washington that exposed how the city of Seattle’s progressive minimum wage increases, which began in 2015, are – contrary to the hopes of misguided liberals – actually crushing the city’s poor. Specifically, the study found that higher minimum wages caused a 9.4% reduction […]

“Fake Research”: Seattle Mayor Knew Critical Min. Wage Study Was Coming, So He Called Berkeley ‘Economists’

Earlier this week we wrote about a study published by the University of Washington which was fairly damning for Seattle’s $15 minimum wage.  To our total ‘shock’, the study found that higher minimum wages caused a 9.4% reduction to total hours worked by low-skilled workers, or roughly 14 million hours per year.  Given that a […]