Way to go, Ikea. The average 17% hike in minimum wages across the company speaks to how slowly wages have increased in the past - about time. If other companies acted like this one, we likely wouldnt need a minimum wage, strictly speaking on wages (not touching benefits in this scenario). Loved this comment by wasjustthinking - concise, helpful historical perspective: Some people seem to have not had much education in history and have no idea why we ended up with a minimum wage in the first place. After the Industrial Revolution and the move to huge commercial farms, labor had even less negotiating power than ever before. There were fewer trades people needed. Many people were working 6 day 12 hour shifts for dirt poor wages and the power of a wealthy few business owners was beginning to trample on the liberties of the poor, much like it had done in the days of kingdoms and surfs - something our founders certainly did not wish for the USA. Things like the minimum wage and unions, which helped to lift all wages and give some leverage back to the worker, are both responsible for the increased prosperity in the 20th century and the rise of the large middle class (that did not exist before this). Included in the reasons for prosperity and a large middle class was public sector employment, like for teachers and firefighters, etc - even military contractors and the NASA Apollo mission, GI bill, & an educated workforce. The quality of life increased for more people as well as their purchasing power. Increased purchasing power distributed among a larger middle class is the engine that drives an economy & businesses.
Posted on: Thu, 26 Jun 2014 21:21:40 +0000
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