Why raise the wage?
Raising the minimum wage puts the UK back on track towards an economy that works for all of us. Facing Brexit causes much uncertainty and clouds fundamental issues like this one that can help define our economy.
Why raise the wage in the UK?
From Labour’s current proposals on policy in 2017:
Labour wish to raise minimum wages to £10 per hour for all, this will be a significant improvement to the Tories contribution implemented this year to £7.50 for over 25s. This is supposed to add thousands to the least well paid, moving more people out of benefits.
This is a strong part of Labours plan to re-balance the economy so that fewer people will be left out. The end result to boost the overall economy and have less forced dependence on people living on benefits.
Marylands argument for raising wages
Maryland needs a raise. Raising the minimum wage means putting Maryland back on track toward an economy that works for all of us.
While corporate profits are at an all-time high, wages are stagnant and working families in Maryland are falling behind. At just $7.25 an hour, our states minimum wage is leaving hard working families in poverty. Every year, as prices go up and wages are stuck, and making ends meet is tougher and tougher for our families. Putting more money in the pockets of working families will boost the economy, because that money gets spent at local businesses and creates jobs in our communities. Maryland cant afford to wait to get our economy working for all of us.
Its good for our economy:
Raising Maryland’s minimum wage to $10.10 per hour will generate $456 million in new consumer spending- helping create a more fair and sustainable economic recovery without increasing costs to taxpayers.
Extensive research on state minimum wage increases makes clear that such increases do not result in slower job growth, even in times of economic recession.In fact, the boost in consumer spending from raising Maryland’s minimum wage will support the creation of 1,600 new full-time jobs as businesses expand to meet increased consumer demand.
Raising the minimum wage benefits the economy as a whole by strengthening consumer demand that businesses large and small depend on. Raising the minimum wage to $10.10 per hour will also directly boost pay for nearly half a million low-wage workers. School bus drivers, security guards, home health attendants, day care workers, retail workers, and restaurant employees they all work hard. But $7.25 is far too low to get out of poverty let alone support a family. Yet 87% of low-wage workers are adults (over 20 years old), 85% work more than 20 hours a week, and nearly half have at least some college education. Approximately 210,000 Maryland children have at least one parent who would benefit from an increase in the minimum wage.
Minimum wage by the numbers:
$10.74 – How much the federal (and Maryland) minimum wage would be if it had kept up with inflation over the past 40 years. Instead, it’s $7.25.
$15,080 – The annual income for a full-time employee working the entire year at the Maryland minimum wage.
15,510 – The federal poverty level for a family of two.
21 – The number of states and the District of Columbia with a higher minimum wage than Maryland.
13 – The number of states plus the District of Columbia that have indexed their state minimum wage to keep up with the rising cost of living.
82 – The percent of Maryland voters that support a minimum wage increase to $10.10.
455,000 – The number of Marylanders whose pay will be increased if the minimum wage was raised to $10.10.
1,600 – The number of jobs that would be created in Maryland by raising the minimum wage to $10.10.
$456 Million – The amount of money that would be injected into Marylands economy if the minimum wage was raised to $10.10.
135 – The amount of hours that a minimum wage worker would need to work in order to afford rent for a two-bedroom apartment, on average.
Raising the minimum wage isnt just the right thing to do for working families, its also smart for our states economy.