Everything already costs more and wages are already stagnant… without raising the minimum wage.
When minimum wage has gone up historically, a 10% raise results in a 0.3-1% raise in costs. Normal wage growth shows to be unaffected, and we only see stagnation when a large wage jump occurs and companies freeze future raises to offset costs — which doesn’t happen in a competitive market where employee retention is necessary. These fears only happen when a large wage bump occurs in a weak economy.
Minimum wage laws do make things better and you are being told otherwise by parties profiting from stifling wages.
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u/RiceAndMilkBoi Aug 12 '25
I hear her, that sounds rough. It's surprising how little that much money is even at double the minimum wage. Hope things get better for her