That Union Thing
While Congress continues to fight over whether to raise the minimum wage, two Federal Reserve officials have made statements in support of an increase. Former Vice Chairman Alan Blinder has stated that a modest increase would not cause a substantial job loss, and current Chairman Ben Bernake has stated that a modest increase would have a minimal effect on overall inflation.
The federal minimum wage, currently $5.15 per hour, has not increased since 1997, and when adjusted for inflation is at its lowest level in 50 years. Several states, including Florida, have adopted minimum wages in excess of the federal minimum wage. Florida's minimum wage will rise to $6.67/hour on January 1, 2007.
FIU researcher Bruce Nissen has issued a report stating that Florida wages have not kept up with inflation. The report focuses on median wages (the figure where half earn more and half earn less) and shows 2005 wages falling 0.6 percent since 2002, when adjusted for inflation. The report also shows that Florida ranks 49th among states for health insurance coverage (20 percent of Floridians lack coverage). Florida also has fewest number of private sector workers covered by pension plans (35.7 percent) and the median wage of $13.47 is far below the national median of $14.28.
After staging a 25-day "solidarity strike," 88 concrete workers in the Seattle area won the right to honor other unions' picket lines. The strikers are members of the International Union of Operating Engineers who recently ratified a new three-year agreement. The solidarity provision had been a part of their previous agreement, as well as a part of other local unions' contracts.
Write reply
Comments must be approved before being published.
