The standards, pushed by rich countries, were not made binding, in part because some developing nations suspected that the real motive was to reduce their wage-cost advantage and to give rich countries an excuse to discriminate against poor-country exports rather than to protect workers.
So here's an idea that Governor Romney and I actually agreed on last year - let's tie the minimum wage to the cost of living, so that it finally becomes a wage you can live on.
He mentioned his 2012 opponent, Mitt Romney, and said we should try his idea of tying the minimum wage to the cost of living.
"Raising the minimum wage will raise the cost of everything else in the country, " he said.
And she may now be convinced that a wage floor will not cost jobs.
For many wage earners, the cost of maintaining their mini-imperial courts can put a severe strain on family finances.
Gone, or at least reduced, is the subsidy China gives to foreign consumers at the expense of Chinese consumers through a low-wage, low-cost policy.
This leads then to the real issue: can a company which pays its workers the minimum wage pass the additional cost onto the end customer?
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For two, considering the producers in Greece and Ireland, a stronger euro would in fact reduce wage pressures, the cost of imported inputs necessary to produce what they manufacture, plus it would reduce shipping costs.
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Savings calculated strictly on the basis of wage rates obscure the real cost of outsourcing.
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Expectations may have risen, but cost push or wage inflation will only likely to rise if economic growth is sufficiently strong or it can be accommodated by an acceleration in monetary growth.
In a bid to offset the political cost of the wage cuts, and also to pre-empt demands from impatient EU partners, the government has announced a sweeping overhaul of the tax system, including a drive to collect more revenue from the rich.
Meanwhile, Pathmark gets relief from its biggest problem--a bloated cost structure driven by wage and health care inflation.
So restoring differentials would roughly double the direct cost of the minimum wage.
The reason why is pretty basic: When we devalue we're actually lowering real wage rates, thus reducing the cost of hiring.
The Bank of England independence, they never did in 18 years, the minimum wage, they told us would cost a million jobs.
Most of Malawi's estimated 120, 000 civil servants - including teachers and immigration officers - are on strike demanding wage increases to counter the rising cost of living, our correspondent says.
NAIRU. More important, the new-economy people forget that overall labour costs have risen more slowly than wages because the cost of non-wage benefits, such as health insurance, has barely budged.
By the time of Rambouillet, the Kosovars were determined to wage war, almost regardless of the cost in lives, unless they were promised full independence.
The Living Wage is calculated according to the basic cost of living in the UK. Employers choose to pay it on a voluntary basis.
Some employers can use new insurance exchanges created by the law to shop for coverage, while the smallest businesses will receive tax credits to offset the cost of covering lower-wage workers.
Republicans said raising the minimum wage would dampen a sluggish economic recovery and cost jobs.
The AP notes that Romney has supported cost-of-living minimum wage increases for a decade.
Eighteen states and the District of Columbia have minimum wages above the federal level, and 10 states index their minimum wage to inflation to automatically rise with the cost of living.
And to put some scale on that, if General Motors, for example, had Toyota's wage structure or benefit structure or health care cost, that is roughly equal to five new products a year every year.
The employment cost index, another measure of wage pressure which is available only up to the end of September, shows annual growth of 3.7% in the year to the third quarter in the fully employed mid-west, up from 2.8% a year earlier.
The Department of Labor concluded that the first minimum wage, 25 cents per hour in 1938, cost the jobs of 30, 000 to 50, 000 of the 300, 000 workers who were covered and had previously earned below the minimum.
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Trying to limit the cost of subsidising jobs by imposing a minimum wage on employers, as Labour proposes, would merely reduce the number of jobs that employers will be willing to offer the long-term unemployed.
On the minimum wage, the government took great care to limit its potential cost in terms of jobs, for example by setting a lower rate for those aged under 22.
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