For Highly Skilled Positions, High Wages Are Needed

I have heard people say that the director/general manager/CEO/boss should have a higher salary than the people he or she manages. It may not be a universal thought, but in America, high wages carry prestige, which many agree brings authority. Economists commonly reject any idea that your wage depends on prestige or confers authority. In […]

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How the Minimum Wage Increase Really Affects Job Numbers

The minimum wage went up to $7.25 an hour on July 24th, a 10.7% increase over last year, as the last of a three-year planned increase passed by Congress. Since inflation is reported at 3.8% for the year the real wage — actual buying power of the minimum wage — went up for 2009. The […]

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