In response to:

Is this the Answer to the Rising Cost on Employers?

para_dimz Wrote: Jan 23, 2013 9:37 AM
Everything is agreeable as written. However, you're no farther than religious faith here: "Either technology creates jobs long-term or it doesn't. I believe it does, and on that score I am an optimist (I just cannot say when it will happen)." In the past this was true. It isn't evident today. All too often the solution proffered, that training and education for hi tech, hi skill jobs is the answer, ignores the people who aren't inclined to that path for a number of reasons, some which are impregnable. The Fed can't fight robots. Economists can't fight people who won't accept their advise.
FletchforFreedom Wrote: Jan 23, 2013 11:01 AM
Tio the contrary, you are confusing the aggregation of the economy, which includes job losses due to ever greater government interference, with those aspects of the economy impacted by technological change. In the latter case, it is unequivocal that market based technological progress has always resulted in more and higher paying jobs coupled with lower costs of living.

The federal Minimum wage in the US is $7.25 per hour. Ten states have higher minimum wages with Rhode Island clocking in 50 cents higher at $7.75.

Costs to the employer are higher of course, even if the employer ducks benefits by using part-time workers.

For starters, employer contributions to Social Security are 6.2% of hourly wages which adds another 45 cents to employer costs. That brings employer costs up to $7.95 per hour minimum, not counting training costs,...