And she may now be convinced that a wage floor will not cost jobs.
Simple labor economics might seem to predict that a wage floor would necessarily lead to a labor surplus.
But if the Bank responds by upping rates, this could increase unemployment by more than the wage floor itself.
Another advocate of a higher wage floor is Sen.
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Left unexplained by progressives, of course, is if the government is needed to set a wage floor because greedy companies will only pay the minimum, why don the other 97% pay more than the minimum?
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The minimum wage (the floor for state pensions) is going up by 11% this month, more than inflation (though less than the 30% demanded by some of Mr Cardoso's allies).
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That is because Social Security is a contributory program that only replaces a floor of wage income in retirement.
He started out at minimum wage on the ground floor of a retail chain store, she worked as a secretary.
Many economists oppose minimum wage altogether, arguing that the created price floor would pose as a barrier for those deemed underqualified to warrant earning a minimum wage.
And since it is hard to cut nominal wage rates, price stability could put a floor beneath real wages.
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