It’s been almost entirely missed by Progressive-Democrats and almost entirely ignored by the Left and its NLMSM.
Rank-and-file workers are getting bigger raises this year—at least in percentage terms—than bosses.
Wages for the typical worker—nonsupervisory employees who account for 82% of the workforce—are rising at the fastest rate in more than a decade, a sign that the labor market has tightened sufficiently to convey bigger pay increases to lower-paid employees.
A National Bureau of Economic Research-sponsored Georgia Institute of Technology study by Sudheer Chava, Alexander Oettl, and Manpreet Singh tells a tale.
For each $1 increase in the minimum wage, the authors estimate that loan amounts dropped 9% more in the affected states. The risk of default was 12% higher. The average credit score for small companies in those states showed “a sharp decline.” Business entries fell 4% in the year the minimum wage went up. A year later, business exits rose 5%.
These results, the authors say, hold throughout various statistical analyses, such as while controlling for local economic conditions. The effects are stronger in businesses like restaurants and retail, which rely on low-skilled labor. Smaller and younger companies are more severely affected as well. In short, the authors conclude: “We find that increases in the federal minimum wage worsen the financial health of small businesses in the affected states.”
Volkswagen is building cars in Xinjiang, People’s Republic of China. You know Xinjiang, the “semi-autonomous” region of the PRC that’s home to tens millions of Muslims and to President Xi Jinping’s “reeducation” camps, Mao-ist internment camps for millions of those Muslims, a people of whom Xi disapproves.
VW thinks all of that is jake.
Speaking with DW on Tuesday, the company said its 2012 decision to open the Urumqi facility was “based purely on economics.” VW says it expects “further economic growth in the region over the coming years.”
Jeremy Corbyn, British Labour Party’s MFWIC, has “accused” British PM Boris Johnson of pushing for US-style deregulation of health care. The horror.
As the UK election campaigns got underway, Corbyn said his rival wanted to “unleash Thatcherism on steroids” once the country was no longer bound by EU trading treaties and regulations.
Channeling our own Progressive-Democratic Party Presidential candidate and Senator Bernie Sanders (I, VT), Corbyn thinks “capitalism” is a dirty word.
He went further:
Corbyn also said…that Johnson wants to strike a trade deal with US President Donald Trump to sell off parts of the UK’s National Health Service, or make it easier for US pharmaceutical firms and medical companies to sell into the UK healthcare market.
In a Wall Street Journalarticle on the tortuous path to criminal prosecution that prosecutors would have in bringing Boeing to criminal trial over its 737 MAX crashes, Andrew Tangel, Jacob Gershman, and Andy Pasztor asked what seems to me to be a very narrow, short-sighted question.
Should prosecutors weigh Boeing’s importance to the economy and national security when deciding how to proceed with a criminal case over the 737 MAX crashes?
Of course prosecutors should—must—not. What’s truly important is the concept of weighing the risks to liberty and to national security of criminals being too big to be punished. We can never allow such a thing to enter even the run-up to criminal prosecutions.
The Chicago Teachers Union struck Chicago (closing out the children of the city from 11 days of education; although, that may have been a net benefit for the kids, given the lack of education the city’s public education institution provides), and it got everything it demanded.
A new joint class size council will be created to address overcrowding. The council will get weekly updated data and will have $35 million per year to address situations on a case-by-case basis
The contract will run for 5 years, giving the board time to implement some of the massive changes in staff
The United Auto Workers will use the agreement at GM as a template that is expected to reach similar terms on wages and benefits in separate contract talks with Ford Motor Co and Fiat Chrysler Automobiles….
However, there’s no reason for Ford or Fiat Chrysler to succumb to this. These are three separate companies, with separate goals, revenue streams, and cost structures; there should be three separate contracts with the UAW.
James Areddy had an extensive article on this in a recent Wall Street Journal. It seems that the personal savings rate of People’s Republic of China’s citizens peaked around 2010 and has been trailing off ever since. Areddy posited a number of reasons for this, and why it’s likely to continue. Chief among them is the usual suspect of an increasingly less poor, if not increasingly prosperous, population wishing to live better rather than save more. Another major reason seems to be the PRC’s one-child policy, lately relaxed legally, but not socially. With fewer kids in the family, there’s less reason for parents to save against those kids’ future.