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Minimum Wage


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7 minutes ago, HeliX said:

People have been suggesting that the labour market can self-correct for decades, and wages have remained stagnant. What was the definition of insanity again?

We are in a very different part of the cycle now. The market is correcting in many ways and there isn’t really any need for government to interfere. There is a pronounced labour shortage and the market will dictate the way forward. Those who don’t pay the going rate are struggling to keep staff. But many businesses are still struggling badly and can’t afford to pay increased rates anyway. It will be survival of the fittest on both sides. 

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1 minute ago, offshoremanxman said:

We are in a very different part of the cycle now. The market is correcting in many ways and there isn’t really any need for government to interfere. There is a pronounced labour shortage and the market will dictate the way forward. Those who don’t pay the going rate are struggling to keep staff. But many businesses are still struggling badly and can’t afford to pay increased rates anyway. It will be survival of the fittest on both sides. 

Well, things have almost never moved in favour of the employees before, and I doubt they will this time. But I certainly hope they do.

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It’s funny how it’s taken a shortage of labour for money to be found to increase the minimum wage. 

In the U.K. restaurants are closing fast - even high end establishments. During lockdown, chefs, servers and ancillary staff decided that they didn’t want to work split shifts, weekends, evenings and found jobs elsewhere. restaurants are finding it almost impossible to replace them.

Locally, I know of one food establishment that has had to cut their opening hours and another, due to launch at the end of the summer, hasn't launched at all as they cannot find staff.

Many of the European workers returned home during lockdown and haven’t returned. To many, even minimum wage was enough to send money home for family. Our young people aren’t prepared to flog their guts out to receive minimum wage. Yes, there’s the old story that they are just lazy, and perhaps some of them are but frankly it’s about time the minimum  wage was raised. Is it enough? No, I don’t think so. Will it be paid by the bosses? No, it will be passed into the customers. We shall all pay. 

Interesting times. 

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1 hour ago, Ramseyboi said:

Or less.

Plenty of business owners paying their staff minimum wage and paying themselves absolutely nothing  or even paying out on credit cards etc to keep their staff employed 

In which case, and I don’t want to sound hard hearted, from the circumstances you have described it seems these businesses you allude to are not viable.

The business owners would be best calling it a day before getting themselves into more debt, and hopefully their employees will find alternative employment paying more than the minimum wage, given the job market at the moment.

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5 minutes ago, The Voice of Reason said:

In which case, and I don’t want to sound hard hearted, from the circumstances you have described it seems these businesses you allude to are not viable.

The business owners would be best calling it a day before getting themselves into more debt, and hopefully their employees will find alternative employment paying more than the minimum wage, given the job market at the moment.

That’s exactly the reason I lost my job during lockdown. The owner of the establishment where I worked  had enough time to work out that the whole thing wasn’t viable. They went on to create another, more profitable business and I created two for myself. It was a win-win situation for us both but it took the ‘reset’ of lockdown for us both to recognise it. 

Edited by Roxanne
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14 hours ago, Annoymouse said:

Any minimum wage worker would be absolutely stupid to stay here given our increased cost of living, even more so with the gas price hike.

Stupid, or is it simply a case of not having the funds to relocate? It's extremely difficult to save any money on a minimum wage. It's called the poverty trap for a reason.  

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1 hour ago, Zarley said:

Stupid, or is it simply a case of not having the funds to relocate? It's extremely difficult to save any money on a minimum wage. It's called the poverty trap for a reason.  

Depends on the reasons people feel trapped, every individual case is different but for those who have the option it would seem daft not too,  a £1 an hour pay rise is huge, especially when lots of minimum wage workers absolutely hammer the overtime trying to earn a decent wage. When I was last on minimum wage I was doing between 50-60 hours a week, so potentially £200 a month extra, I’d be moving to somewhere with cheaper rent and actually living rather than existing.

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UK pay increases risk further fuelling inflation. Inflation will result in interest rates increases. A vicious circle.

Those on the lowest pay deserve a better deal. The danger is that everyone else asks for more too. That would result in the lowest paid being no better off - and all of us rapidly being worse off.

Obviously the best thing for the economy would be to re join the Single Market ASAP.

Edited by pongo
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11 minutes ago, pongo said:

UK pay increases risk further fuelling inflation. Inflation will result in interest rates increases. A vicious circle.

Those on the lowest pay deserve a better deal. The danger is that everyone else asks for more too. That would result in the lowest paid being no better off - and all of us rapidly being worse off.

Obviously the best thing for the economy would be to re join the Single Market ASAP.

Uk minimum wage increase has been paid for by removing the £20 a week temporary uplift in benefits due to Covid. After taxes and ni the take home pay will be virtually unchanged. 

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My daughter has just started uni in the Uk , she’s been looking for a part time job as she only has 3 days of lessons a week, some of the job adverts I saw advertised paid as low as £4.23 an hour, some of them said £9 an hour but more if you take no payment for the job until January 

Edited by gillf
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13 minutes ago, Roxanne said:

It’s OK Pongo. Rest easy. They’ll jist put an order into the printers for another billion £50 notes. 

Absolutely fine provided that the same amount is removed via taxation.

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The point about low pay is that it's relative. If everyone else ends up expecting more too then the lowest paid typically end up worse off.

A better solution would be for everyone except those on low pay to take a cut. But not a vote winner.

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