{"id":595,"date":"2017-01-06T20:01:13","date_gmt":"2017-01-06T20:01:13","guid":{"rendered":"http:\/\/wordpress.fau.edu\/lifelongexchange\/?p=595"},"modified":"2017-01-06T20:01:13","modified_gmt":"2017-01-06T20:01:13","slug":"should-the-sunshine-state-increase-the-minimum-wage-to-15","status":"publish","type":"post","link":"https:\/\/wordpress.fau.edu\/lifelongexchange\/2017\/01\/06\/should-the-sunshine-state-increase-the-minimum-wage-to-15\/","title":{"rendered":"Should the Sunshine State Increase the Minimum Wage to $15?"},"content":{"rendered":"
\"schug\"<\/a>

By Mark Schug, Ph.D.<\/p><\/div>\n

 <\/p>\n

Voters around the nation have been pushing for increases to the minimum wage.\u00a0 In fact, minimum wages will increase in 19 states in 2017 including Massachusetts, California, and Arizona.<\/p>\n

Arizona is the biggest surprise.\u00a0 In 2016, a large majority of 58 percent of the electorate voted to raise the Grant Canyon State\u2019s minimum wage to $12. This is the biggest jump among the 19 states and one of the largest one-time increases ever enacted.<\/p>\n

Should Florida follow suit?<\/p>\n

For many years, the Sunshine State adhered to the federal minimum wage.\u00a0 This is the policy followed by all the other states in the South.\u00a0 That all changed in November 2004 when Floridians voted to amend the Florida Constitution by adding a minimum wage provision.\u00a0\u00a0The minimum wage increased to $6.15 in 2005.\u00a0 Today, it is $8.10.<\/p>\n

During the 2016 legislative session, bills were introduced to raise Florida\u2019s minimum wage to $15 per hour.\u00a0 While both bills failed, it is obvious that the issue is not dead.<\/p>\n

From its inception as part of the New Deal in 1933, the minimum wage has been controversial.\u00a0 The question posed by economists is:\u00a0 Do the costs of minimum wages outweigh the benefits?<\/p>\n

The benefits are visible, immediate, and easily reported by the media.\u00a0 People who hold minimum wage jobs and people who hold jobs that pay above the current minimum wage, but below the new minimum wage, all get raises.<\/p>\n

The costs are less visible and in the future.\u00a0 Many economists worry about \u201cemployment effects.\u201d\u00a0 That is, will an increase in the minimum wage cause employers to substitute technology for labor, thus hiring fewer people?\u00a0 Will it encourage more employers to hire workers \u201coff the books\u201d thus avoiding those pesky federal payroll taxes?\u00a0 What about those people who would be willing to work for something less than the legal wage?\u00a0 Those folks are priced out of the legal job market.<\/p>\n

We will take a \u201cdeep dive\u201d into the issues surrounding the minimum in the first session of my course.\u00a0 Other topics will include Wall Street, international trade, and the economics of the environment.<\/p>\n

———————-<\/p>\n

Professor Schug is currently teaching a four-week course, \u201cEconomic Insights into Public Issues\u201d on Mondays from 4:00 \u2013 5:30 p.m. The class dates are January 9, 23, and 30; February 6, 2017.<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

  Voters around the nation have been pushing for increases to the minimum wage.\u00a0 In fact, minimum wages will increase in 19 states in 2017 including Massachusetts, California, and Arizona. Arizona is the biggest surprise.\u00a0 In 2016, a large majority…<\/span><\/p>\n

Read more ›<\/a><\/div>\n

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