You're talking about a wage that would directly affect a huge share of workers in many states, in over a dozen states. So, that really should tell you just how high a $15-an-hour minimum wage is. There are 20 states where half of all workers earn less than $18 an hour. There are three states where half of all workers earn less than $16.50. Going to $15 would really have a significant impact on the labor markets of many of these states. I have laid out in great detail why I actually think that those estimates tend to really put more weight on some of the most negative studies that actually have been done to date, which actually have been shown to have a lot of problems. I happen to think that those estimates on job losses that the CBO put out are too pessimistic. And, as a result, nearly a million people are pulled out of poverty. Now, overall, even if you take the CBO numbers seriously, that means working people as a whole come out far ahead, because the wage gains are substantially greater than any job losses. And they argue that 1.4 million fewer jobs will be there as a result. So, CBO number says 27 million people are going to get a raise from this policy. So, I want to think about where we would be five years from now without a minimum wage, I think we would be in a place where low-wage jobs are - low-wage workers are going to struggle even more. We're talking about phasing in over a number of years. And, look, we are not really talking about raising a very substantial raise in the minimum wage during the pandemic. So, I think it's certainly the right time to talk about raising the minimum wage. That's actually the longest that we have not raised the minimum wage since we have had the minimum wage in 1938. So, first of all, I think it's important to understand that we have not raised the federal minimum wage for almost a dozen years. I would look to federal earnings subsidies, the Earned Income Tax Credit, programs like that can be used to help make work pay, that can be used to pull people out of poverty, but that wouldn't have the effect of eliminating over a million job opportunities. It's going to be the least skilled, least experienced, most vulnerable workers in society who are going to bear the downside, who are going to bear the costs of that policy. It's not going to be workers who have higher skills, but who didn't graduate college. Who's not going to be getting jobs? It's not going to be college graduates. The Congressional Budget Office, nonpartisan kind of scorekeeper/referee in policy debates, finds that the $15-an-hour minimum wage will reduce employment opportunities by over one million jobs. The question is, just what is the best tool to use in order to address those inequities?Īnd I do not think that minimum wage particularly a $15 an hour minimum wage is the best tool. And those should be addressed by public policy. To be issued with a permit, the employer must pay at least the full minimum wage payable to employees aged 21 and older even if the employee is younger than 21 or works part time.Well, I think the economy does have inequities. Full minimum wage for employees subject to an employment permitĮmployers must apply for an employment permit for employees from outside the EU. This can differ from one person to another. The net amount you receive will depend on how much is withheld. Your employer will withhold taxes and social insurance contributions from your gross wage. There are usually 36, 38 or 40 hours in a full week. The law does not lay down how many hours there are in a full working week. The amounts of the minimum wage are for a full working week. Gross minimum wage as of 1 January 2023 21 year and older Minimum wage as of 1 January 2023 Per month, week and day Age Gross minimum wage as of 1 July 2022 21 year and older Minimum wage as of 1 July 2022 Per month, week and day Age The government adjusts the amount of the minimum wage twice a year – on 1 January and 1 July – in line with changes in average collectively agreed wages in the Netherlands. The minimum wage is lower if you are under 21.
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