The Cellar - View Single Post - Minimum wage: $15 NOW!; or 15... eventually

Undertoad · 12-09-2018, 10:35 AM

The 35 hour workers are also getting fewer hours now.

35 hours x $15 x 4 weeks x 3 months = $6300/qtr (gross)

35 hours x $11 x 4 weeks x 3 months = $4620/qtr

They should be making $1632 more per qtr -- but they are only making $251 more per qtr.

But wait, we all made a little more money more during this time. There was inflation. Does the study adjust for inflation? The answer seems to be no; I can't find any evidence that all this is in real dollars. $4,620 in June 2014 is equivalent in purchasing power to $4,902 in October 2018. That's $282 difference.

So the math says the top half people are now working 2 fewer hours per week, and netting a little less money out of their job due to inflation.

12-09-2018, 10:35 AM	#87
Undertoad Radical Centrist Join Date: Jan 2001 Location: Cottage of Prussia Posts: 31,423	The 35 hour workers are also getting fewer hours now. 35 hours x $15 x 4 weeks x 3 months = $6300/qtr (gross) 35 hours x $11 x 4 weeks x 3 months = $4620/qtr They should be making $1632 more per qtr -- but they are only making $251 more per qtr. But wait, we all made a little more money more during this time. There was inflation. Does the study adjust for inflation? The answer seems to be no; I can't find any evidence that all this is in real dollars. $4,620 in June 2014 is equivalent in purchasing power to $4,902 in October 2018. That's $282 difference. So the math says the top half people are now working 2 fewer hours per week, and netting a little less money out of their job due to inflation.