Federal regulations update: EEOC's future direction; older workers benefit act rulemaking; affirmative action plan; minimum wage increases

1996 ◽  
Vol 23 (3) ◽  
pp. 75-79
Author(s):  
Barbara Berish Brown
Keyword(s):  
Affirmative Action ◽  
Minimum Wage ◽  
Older Workers ◽  
Action Plan ◽  
Federal Regulations ◽  
Future Direction ◽  
Wage Increases

scholarly journals Minimum Wages and Retirement

ILR Review ◽  
2019 ◽  
Vol 73 (1) ◽  
pp. 153-177
Author(s):  
Mark Borgschulte ◽  
Heepyung Cho
Keyword(s):  
Social Security ◽  
Labor Supply ◽  
Minimum Wage ◽  
Older Workers ◽  
Employment Outcomes ◽  
Minimum Wages ◽  
Financial Resources ◽  
Positive Effects ◽  
Wage Increases ◽  
Social Security Beneficiaries

The authors study the effect of the minimum wage on the employment outcomes and Social Security claiming of older US workers from 1983 to 2016. The probability of work at or near the minimum wage increases substantially near retirement, and previous researchers and policies suggest that older workers may be particularly vulnerable to any disemployment effects of the minimum wage. Results show no evidence that the minimum wage causes earlier retirements. Instead, estimates suggest that higher minimum wages increase earnings and may have small positive effects on the labor supply of workers in the key ages of 62 to 70. Consistent with increased earnings and delayed retirement, higher minimum wages decrease the number of Social Security beneficiaries and amount of benefits disbursed. The minimum wage appears to increase financial resources for workers near retirement.

Die Auswirkungen des gesetzlichen Mindestlohns auf die Rentenentwicklung

2021 ◽  
Vol 70 (99) ◽  
pp. 1-19
Author(s):  
Oliver Ehrentraut ◽  
Philipp Kreuzer ◽  
Stefan Moog ◽  
Heidrun Weinelt ◽  
Oliver Bruttel
Keyword(s):  
Minimum Wage ◽  
Pension System ◽  
Full Time ◽  
Pension Insurance ◽  
Individual Level ◽  
Wage Effects ◽  
The Individual ◽  
Wage Increases ◽  
Full Time Employment ◽  
Pension Insurance System

Der Beitrag untersucht auf Basis eines Simulationsmodells und empirischer Daten die Auswirkungen des gesetzlichen Mindestlohns auf die Rentenversicherung. Dabei werden sowohl die Wirkungen auf das Rentensystem insgesamt als auch die individuellen Rentenansprüche von Beschäftigten analysiert. Auf das Rentensystem insgesamt hat der Mindestlohn praktisch keine Auswirkungen, weil der Impuls des Mindestlohns auf die gesamtwirtschaftliche Lohnsumme letztlich zu gering ist. Auf individueller Ebene können sich die Rentenanwartschaften der Versicherten je nachdem, wie deutlich ihr Verdienst aufgrund der Mindestlohneinführung gestiegen ist, erhöhen. Die Rentenanwartschaften bleiben aber bei einem Verdienst in Höhe des Mindestlohns selbst bei durchgängiger Vollzeitbeschäftigung unter dem Niveau der Grundsicherung im Alter. Abstract: The Effects of Minimum Wage on the Statutory Pension Insurance in Germany In 2015, Germany introduced a national minimum wage. Based on a simulation model and empirical data we analyse its effects on the statutory pension insurance. We will consider aggregate effects on the pension insurance system in total as well as on individual pension entitlements of employees. Our results show that the minimum wage has only negligible effects on the pension system as a whole because the minimum wage induced wage effects on the economy’s total wage bill are rather small. On the individual level, the minimum wage can help to increase individual pension entitlements. The magnitude depends on individual wage increases resulting from the minimum wage introduction. However, even continuous full-time employment at the minimum wage level will not be enough to lift individual pension entitlements above the guaranteed minimum pension level.

The effect of minimum wages on consumption in Canada

2020 ◽  
pp. 103530462094995
Author(s):  
Young Cheol Jung ◽  
Adian McFarlane ◽  
Anupam Das
Keyword(s):  
Minimum Wage ◽  
Adult Population ◽  
Retail Trade ◽  
Minimum Wages ◽  
The Real ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Long Run ◽  
Lag Model ◽  
Wage Increases

We use Canadian data over the period of 1991Q1 to 2019Q2 to examine the effect of higher minimum wages on consumption, measured as the real retail trade sales per adult population. Such an examination is rare in the extant literature and it is timely given the increasing debate concerning the stimulus versus inflationary effects arising from wage polices because of COVID-19 global pandemic. We apply the autoregressive distributed lag model to determine the causal relationship between these variables. We find one long-run cointegrating relationship that runs from the real minimum wage to the real retail trade sales. In addition, we find that a 1% increase in the minimum wage is associated with almost a 0.5% increase in real retail trade sales in the long run. While our findings rest on several statistical assumptions, there is strong evidence in support of the position that minimum wage strengthens aggregate consumer spending, and thereby the standard of living, economic growth and stability. This is a position that differs from the conclusions drawn from mainstream academic and policy debates on the economic usefulness and efficacy of minimum wage increases. JEL Codes: C30, E21, E24

scholarly journals The Econometrics and Economics of the Employment Effects of Minimum Wages: Getting from Known Unknowns to Known Knowns

2019 ◽  
Vol 20 (3) ◽  
pp. 293-329 ◽  
Author(s):  
David Neumark
Keyword(s):  
United States ◽  
Minimum Wage ◽  
Past Research ◽  
The United States ◽  
Minimum Wages ◽  
Definitive Answer ◽  
Employment Effects ◽  
Conflicting Evidence ◽  
Known Unknowns ◽  
Wage Increases

Abstract I discuss the econometrics and the economics of past research on the effects of minimum wages on employment in the United States. My intent is to try to identify key questions raised in the recent literature, and some from the earlier literature, which I think hold the most promise for understanding the conflicting evidence and arriving at a more definitive answer about the employment effects of minimum wages. My secondary goal is to discuss how we can narrow the range of uncertainty about the likely effects of the large minimum wage increases becoming more prevalent in the United States. I discuss some insights from both theory and past evidence that may be informative about the effects of high minimum wages, and try to emphasize what research can be done now and in the near future to provide useful evidence to policymakers on the results of the coming high minimum wage experiment, whether in the United States or in other countries.

scholarly journals The Pass-Through of Minimum Wages into US Retail Prices: Evidence from Supermarket Scanner Data

2020 ◽  
pp. 1-99
Author(s):  
Tobias Renkin ◽  
Claire Montialoux ◽  
Michael Siegenthaler
Keyword(s):  
Minimum Wage ◽  
State Level ◽  
Minimum Wages ◽  
Scanner Data ◽  
Consumer Prices ◽  
Retail Prices ◽  
Minimum Wage Legislation ◽  
Pass Through ◽  
Wage Increases ◽  
Grocery Products

This paper estimates the pass-through of minimum wage increases into the prices of US grocery and drug stores. We use high-frequency scanner data and leverage a large number of state-level increases in minimum wages between 2001 and 2012. We find that a 10% minimum wage hike translates into a 0.36% increase in the prices of grocery products. This magnitude is consistent with a full pass-through of cost increases into consumer prices. We show that price adjustments occur mostly in the three months following the passage of minimum wage legislation rather than after implementation, suggesting that pricing of groceries is forward-looking.

scholarly journals Do Minimum Wage Increases Influence Worker Health?

2016 ◽  
Author(s):  
Brady Horn ◽  
Joanna Catherine Maclean ◽  
Michael Strain
Keyword(s):  
Minimum Wage ◽  
Worker Health ◽  
Wage Increases

scholarly journals DO MINIMUM WAGE INCREASES INFLUENCE WORKER HEALTH?

2017 ◽  
Vol 55 (4) ◽  
pp. 1986-2007 ◽  
Author(s):  
Brady P. Horn ◽  
Johanna Catherine Maclean ◽  
Michael R. Strain
Keyword(s):  
Minimum Wage ◽  
Worker Health ◽  
Wage Increases
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