Anyone think this will have consequences for Colorado employers/employees?
I can’t see where it would affect much of anything, other than a minimum wage worker’s attitude. The decline is less than one half of one percent.
No. I have no employees currently. When I do hire, it’ll be for at least double the minimum wage.
I might have sounded a little callous in my initial response. I responded from my PDA and I don’t like to type much on it.
I think it would be terrible for an employer to cut their employee’s pay by 3 cents. The economic impact on the employee would be small…at less than half a percent…but what would it do not only to their attitude, but to their self respect. They certainly wouldn’t feel valued.
Anyway, the article said that roughly 4% of Colorado’s work force was paid minimum wage. So, 4% of wager earners MAY get their pay cut by 3 cents per hour. I don’t see any real impact on the statewide economy.
Nah, I’ve been around the inter-block a time or two. I don’t ever get easily offended. Get frustrated by the size of my thumbs compared to the size of the buttons on my BB, too though. lol
Agreed, can’t see much of a real impact other than possibly a psychological one. In years past, whenever there was a minimum wage increase we’d beat it to the punch by bumpin’ up our guys before it took effect. That showed em we were on it, keepin’ em happy. I suppose if I was in Colorado I might give the guys a little bump just to boost their spirits, after hearing this news, just for the sake of it. Confidence is everything when dealing in finance and economics.
It’s ridiculous to believe that employers would be reducing a current employee’s wage by 3 cents when the law becomes effective.
More likely, new hires would be paid at that level.
I don’t find it ridiculous that someone who pays minimum wage would roll back a current employees wage. I think it would be ridiculous if a employer actually did that but I bet Wal-mart is taking a long hard look at doing it. Whats to stop an employer from doing it? The employee dosen’t like it they can quit(find a new minimum wage job at the lower rate) and you hire a new person at the new lower minimum.
I’d bet from a production standpoint they won’t drop current employee wages. They certainly would loose more than 3 cents an hour from the drop in production that would instantly accompany a pay cut. I agree w/ Larry that they will likely leave current employee wages where they are and start new hires at the lower level.
While I hope it dosen’t occur, I just don’t think its ridiculous to think that it may occur. In my opinion most companys that only pay minimum wage are doing it because they are forced to, if they could pay less they would.
I never said they would. I doubt anyone would waste time doing the paperwork.
I agree. Of course that’s the reason for a minimum wage in the first place.
It’s just that it would be self defeating to lower their pay. An employer may want to save a few cents but knows a move like that would cost them a few dollars.
Penny wise…pound foolish.
Oh John – you’re so defensive!
chatting with you is like…[ame=http://www.youtube.com/watch?v=N40d047u-L8]YouTube - Dueling Banjos - Deliverance (High Quality)[/ame]
Happy new year Larry!
Funny, and true, but so funny.