federal minimum wage
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2021 ◽  
Vol 17 (4) ◽  
pp. 478-490
Author(s):  
Lyudmila Migranova ◽  
Raisa Popova

In 2021 the methodological approaches to the assessment of the minimum wage and the subsistence minimum level (SML) undergone significant changes. According to federal law No 473-FZ of December 29, 2020, these minimum social guarantees are to be calculated relative to the median wage (at 42%) and the median per capita income (at 44.2%) for the past year. This article reviews the changes in the minimum social guarantees as regards employees’ wages in Russia and its regions in the past two years. A new methodology for estimating the median wages had not been developed by the start of 2021. According to Law No 473-FZ the federal minimum wage was set using the Pension Fund data at the rate of 12792 rubles per month. The majority of regions used the federal minimum wage as the basis for defining regional minimum wages. A comparative analysis of regional minimum wages in 2020 and 2021 was carried out for two groups of regions, the regions with regular climate conditions and the regions with special (extreme) climate conditions where the regional coefficient for wages is applied. The analysis shows that in 2021 the minimum wage increased by 5,5% compared to 2020 in most regions. The exception is 11 regions of the Russian Federation, where the minimum wage was set at an increased rate compared to the federal level. The article analyses the ratio of the minimum wage and means wage of all employees in 45 regions of the Russian Federation with normal climate conditions and in 16 regions with extreme climate conditions, where a unified rayon coefficient is set up at the territory of the region. The dynamics of this indicator allows for estimating the trends in wage inequality


2021 ◽  
Vol 5 (Supplement_1) ◽  
pp. 502-502
Author(s):  
Eric Jutkowitz ◽  
Derek Lake ◽  
Peter Shewmaker

Abstract Paid long-term care workers, such as personal care aides, compliment family caregivers in the delivery of care for people with long-term care needs. Nearly 12% of paid long-term care workers live in poverty. There is a call to raise the federal minimum wage from $7.25/hr to $15/hr. Long-term care workers may financially benefit from an increase in minimum wage, but families that rely on paid long-term care may be unable to afford higher wages. We obtained Health and Retirement Study (HRS; 2006-2014) respondents’ state of residence which we linked with state minimum wage data. Between 2006 and 2010 the federal minimum wage increased from $5.15 to $7.25. We identified 25 states in which the 2006 to 2010 (pre period) increases in federal minimum wage increased the state’s effective minimum wage (higher of state and federal minimum wage). Seven of these states continued to increase their minimum wage from 2010 to 2014 (post period). The remaining 18 matching control states did not increase their minimum wage after 2010. We used a difference-in-differences design and ordinary least squares regression to compare hours of unpaid and paid caregiving HRS respondents received in treatment and control. There was no statistically significant change in unpaid (-2.15; 95%CI: -8.53, 4.23) or paid (2.42; 95%CI: -1.33, 6.20) caregiving hours received between HRS respondents that lived in states that did and did not increase their minimum wage. Increasing state minimum wage may improve the economic wellbeing of long-term care workers without adversely affecting people with long-term care needs.


2021 ◽  
pp. 41-43
Author(s):  
Kshama Mumbai

“The Lawrence Textile Strike, also known as the Bread and Roses Strike”, prompted the first minimum wage law in the United States in 1912. Various states followed suit over the next two decades, and in 1938, at the height of the Great Depression, Congress passed the Fair Labor Standards Act, which created a federal minimum wage (FLSA).The basic incentive behind the introduction of the Act was to reduce income inequality.A rise in minimum wage acts as a form of relocation of wealth from higher-income people to lower-income people. In principle, Congress amends the FLSA on a regular basis to raise the federal minimum wage to levels necessary for even the lowest-paying workforces in the economy.It also aims to help low-wage workers benefit from overall economywide advances in living standards. However, this has historically not always been the case. In 1968, The Poor People’s 1 Campaign started because of not raising the minimum wage to sufficient levels . The explicit purpose of the federal minimum wage is to help increase consumer purchasing power which stimulates the economy and to keep America's workforces out of poverty.However,the law failed to include the automatic cost of living adjustments and led to inflation eroding the real value of the minimum wage over time. There is a dire need for legislative action to raise the nation’s wage floor, more so than ever during the COVID-19 pandemic.Unless consumer's purchasing power is increased,it will be difficult to come out of this recession.Further,the minimum wage is a direct concern for poverty levels and gender / racial inequality.This paper aims to analyze previous work on the issue and provide further recommendations for the same.


2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Robert Tucker Omberg

Abstract Revisiting research from the 1990s from Castillo-Freeman and Krueger, I use the synthetic control method of Abadie et al. to estimate the impact of the most recent increase in the federal minimum wage on employment in Puerto Rico. I estimate that the employment/population ratio of various groups in Puerto Rico was significantly lower than that of a data-constructed synthetic Puerto Rico which did not raise its minimum wage. Placebo tests on other donor units, time periods, and population groups suggest that a significant portion of this gap is a result of the minimum wage. Groups with greater exposure to the minimum wage, such as teens and restaurant workers, experienced proportionally greater declines in employment. My results suggest an own-wage elasticity of employment in Puerto Rico of −0.68, higher than estimates from the mainland, which suggests that the employment response to minimum wages may be more dramatic at higher relative minimum wages.


2021 ◽  
Vol 110 ◽  
pp. 01047
Author(s):  
Irina Omelchenko ◽  
Oleg Dozortzev ◽  
Marina Danilina ◽  
Alexander Safonov

The authors of this article focused on another aspect of poverty and carried out regression analysis of the data influencing the formation of the minimum wage in the labour market in the constituent entities of the Russian Federation. The authors determined the fact of leveling the importance of the federal minimum wage as a tool to influence the level of economic development of regions and reduce poverty. Also, the performed regression analysis revealed a statistically significant effect of poverty and unemployment rates on the decline in real wages in the constituent entity of the Russian Federation. Thus, the analysis showed that the main factors influencing the establishment of the minimum wage in the region are the median wages, the gross regional product of the subject and the subsistence minimum of the TN. Fixed capital investments do not directly affect the level of minimum wages.


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