As the nation begins to gear up for the 2016 elections, according to the AFL-CIO’s Richard Trumka, wages and “inequality” are going to be the main campaign theme used by unions and, consequently, Democrats.
While over a month old, this clip from MSNBC’s Morning Joe discusses the much-debated minimum wage hikes being considered across the country and its impact on small business.
One point that is often overlooked in the minimum-wage debate is the effects of wage compression (raised from 3:30 to 4:30 in the clip).
Wage compression is defined as:
Pay inequities that arise when new employees demand and get wages higher than those being paid to the current employees. See also wage expansion.
via DigitasDaily.
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