Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Consistent with this news, U.S. Federal Reserve Chair Jay Powell has pointed out that wage gains are finally accruing to lower-paid workers.The Congressional Budget Office estimates that a $15 minimum wage would lead to job losses for 1.3 million lower-paid workers.In late September, Chancellor of the Exchequer Sajid Javid announced that the minimum wage of 8.21 pounds per hour for workers over 25 would be expanded to include all workers over 21 . He also promised that by 2024, the minimum wage will have risen to two-thirds of median earnings. Not to be outdone, Labour has vowed to hike the minimum wage to 10 pounds per hour if elected.As I have pointed out before, despite strong headline employment figures in the U.S., the U.K. and other Western economies over the past decade, business investment spending has remained stubbornly weak, as have productivity and wage growth.Without productivity growth, there is little reason to expect sustainable wage growth.
Has the world economy reached peak growth?
Business owners should embrace wage increases
of fiscal policy
as feasible option
FOLLOW THIS ARTICLE