But those new entrants will not be able to find jobs at the above-market wage rate.
FORBES: Obama's Minimum Wage Hike: A Case Of Zombie Economics
At some wage rate, all willing and able workers could be absorbed into private employment.
FORBES: 'Governments Don't Create Jobs; Only the Private Sector Creates Jobs.' Really?
However, there is worrying evidence that a significant number of employers are not paying apprentices the relevant minimum wage rate.
Union spokesman Samir Ray said they wanted the daily wage rate in Bengal to be doubled and other perks paid.
If the professors were willing to accept the wage rate offered to teach, then they must not have had a better option.
In the case of labor, this means as the price of labor (the wage rate) increases, the number of jobs will decrease, other things constant.
FORBES: Obama's Minimum Wage Hike: A Case Of Zombie Economics
The government can promise a higher wage rate, but if a worker loses her job, her income (hourly wage x hours worked) will be zero.
FORBES: Obama's Minimum Wage Hike: A Case Of Zombie Economics
The continued lockout, amid picketing by 1, 050 workers, began after the union failed to win lower health-care costs and a return to a single wage rate.
Mr Jones said he would understand calls for a rise in the minimum wage rate over the next three years because people needed to "aspire to bettering themselves".
There I found the U.S. median hourly wage rate for electrical and electronic equipment assemblers, which pretty accurately describes the work done by all those Foxconn workers assembling iPads.
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Since 2000, the wage and salary growth rate peaked at over 8% only for the first half of 2006 and for the record, wage and salary growth averaged 7% between first quarter 2005 and third quarter 2007.
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In the long term, living with a fixed exchange rate demands wage and price flexibility.
The difficulty of achieving a reduction in the rate of wage increases ought, in short, to be considerably less than that of achieving absolute cuts.
Most cities have pledged to lower home prices below the rate of wage inflation, but are still toying with whether or not to impose the 20% tax on second hand home purchases.
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Given that most of those on minimum wage have a savings rate of zero and that the general savings rate for the economy is around 10% (not accurate, but good enough) then the extra spending in the economy is 10% of the total amount of money moved from pocket to pocket.
Although several states already have higher minimum-wage pay levels in place, the national rate sets the base for many low-wage workers.
For homebuyers, the best measure of the real rate is the gap between the average mortgage rate and annual wage growth.
For instance, with assistance of rapid increase in wage rates, expected interest rate liberalization and further reforms, China is probably close to a turning point when income distribution switches from deterioration to improvement.
No, really: if you work 25 hours a week on the minimum wage then your marginal tax rate is, without even considering any reduction in in work benefits, over 40% when you include both income tax and national insurance.
Someone who is working less than full time on the minimum wage can be taxed at that rate.
In the late 1990s, the black-white wage differential closed at the fastest rate since the civil rights era.
The principle is that affluent Americans should pay the same -- at least the same tax rate as middle American wage earners.
The historic Tax Reform Act of 1986 that Republican icon Ronald Reagan pushed through had a top tax rate for long term gains and for dividends of 28%, the same rate as for ordinary wage income.
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Most single mothers operate under extreme social and economic impediments -- triple the poverty rate of the rest of the population, the highest rate of low-wage employment, the worst wage gap, the lowest net worth, the highest risk of bankruptcy -- that add up to a massive inequality in American society.
Trade unions are demanding a 65% wage increase, about double the inflation rate, it reports.
The headline rate, widely used by wage negotiators, dropped from 3.3% to 3.1%.
The Congressional Budget Office estimates that the rate of unemployment below which wage pressure will tend to increase inflation is 5.8%.
Mr Jones said it was too early to consider raising the rate of the National Minimum Wage, despite union anger at reports that it is to be frozen until next year.
Mr. Obama endorsed the political ruse he calls the Buffett rule, which asserts as a matter of moral principle that millionaires should not pay a lower tax rate than middle-class wage earners.
Too few people earn the minimum wage for mass unemployment to follow from this rate.
FORBES: Greg Mankiw's Excellent Question: Why a $9 Minimum Wage? Why Not $90? Or 90 cents?
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