Tag Archives: Wages

Japan’s Struggling Labor Market

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As with any growing country, the demand for labor in Japan is increasing. The problem in Japan, however, is that the labor force is having a hard time keeping up. Already, unemployment rates are dipped to 2.8% at the beginning of this year- the lowest it’s been in over two decades. On top of this higher participation, elderly people are coming out of retirement to fill the void, not exactly the productive labor force you would wish for in a blossoming economy. Any economist will tell you that this is cause for inflation. The scarcity of workers will demand higher Continue reading Japan’s Struggling Labor Market→

Some Miss Out on Minimum Wage

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Many states have been following the push to increase the minimum wage, with the hope of increasing the standard of living, and make the minimum wage a “living wage.” Yet many workers are still missing out on wage hikes because they work for tips. Many state minimum wage laws provide some sort of exemption from workers who receive tips. There is a minimum wage, and a “tipping minimum wage,” where the minimum wage for employees whose income partially comes from tips is typically lower than the minimum wage for employees who don’t get tips. In fact, only seven states mandate Continue reading Some Miss Out on Minimum Wage→

Race as a Variable: The Progressive Era

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The Progressives of the late 19th century and early 20th century paved the way for expanded government and socialistic policies. But when looking back at these the ideas and views of the economists, sociologists, and other experts at that time there is an overwhelming cloud of prejudice behind their ideologies. They sought to change the way of thinking about society as whole and how to better it, but this led them to see “inferior” individuals as negatively affecting society. Of course, it is important to remember that this was a different era, dating back before the civil rights movements of Continue reading Race as a Variable: The Progressive Era→

The Economic Impact of March Madness

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With March Madness happening currently (embarrassed with how my bracket is performing), it’s only relevant to talk about the economic impact of the flurry of college basketball games throughout the month. The general thought is that the economy would suffer, with firms paying their workers an estimated $1.9 billion in wages while they aren’t working. Workers are constantly checking their phones and computers for scores (some just watching the games), and The New Republic noted that 86% of workers will check the scores throughout the day. The idea would be to punish the workers, right? That’s not what some businesses have Continue reading The Economic Impact of March Madness→