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Near-historic price increases for basics like food and gas have drawn scrutiny to a question at the heart of the economy: How much money must a worker make to stay afloat?
The price of eggs has risen nearly 50% over the last year; while the cost of milk and bread have each jumped about 15%. Even after falling from a summer peak, gas prices remain 10% higher than a year ago. READ MORE
As Americans grapple with the stiffest inflation in 40 years, many workers may ponder another milestone today: It's been exactly 13 years since the last time the U.S. raised the federal minimum wage.
That's the longest time the baseline wage has stayed flat since the nation first implemented a minimum wage during the Great Depression. READ MORE
By Tuesday afternoon, Lyft driver Elida Zabaleta had earned $100 in the five hours she spent ferrying passengers across the city of San Jose. With gas prices in California surging, she’d have to use more than half of that to cover fuel for the day, leaving her with just $45.
The rising cost of gas has made a difficult job all the more difficult, Zabaleta said, forcing her to spend more time behind the wheel to earn enough to afford living in one of the country’s most expensive cities. READ MORE
The U.S. economy has been recently rocked by rising inflation and Jimmy John’s founder Jimmy John Liautaud predicted pricing will hit a new milestone in an interview with Fox News Digital.
At Turning Point USA's AmericaFest, the sub shop dynamo pressed his confidence that inflation will spike the price of Americans' fast food bills to equal the minimum wage. READ MORE
If your state recently raised its minimum wage, there’s a good chance new Nobel Prize winner David Card helped make it happen.
Card co-pioneered research in the early 1990s that showed raising the minimum wage didn’t necessarily cause businesses to lay off workers and hurt employment. Before his famous study, economists almost universally believed increasing the minimum wage cost jobs. READ MORE
It's no secret that U.S. retailers have struggled immensely to fill employment gaps and maintain staffing levels as store traffic has returned in recent months. According to recent U.S. Bureau of Labor statistics, after significant growth in June — up by 67,000 — retail hiring flattened, then decreased in July (down 6,000) and August (down 29,000). READ MORE
Congress will pass an embarrassing milestone on Saturday: a dozen years without so much as a penny increase to the federal minimum wage.
The wage floor set by the federal government remains just $7.25 per hour, well below a living wage everywhere in the country. A worker earning that pay with a full-time schedule would bring home an annual salary of only $15,000, hardly enough to cover basic living expenses for a single person, let alone a family. READ MORE