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submitted 11 months ago by RehRomano@lemmy.ca to c/vancouver@lemmy.ca
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[-] villasv@beehaw.org -2 points 11 months ago* (last edited 11 months ago)

Yes, there are some counterpoints to minimum wage increases. That's one of them: raising the bar for employability, which also raises the bar on business viability, both of which might ultimately decrease the job pool size. I think it's a reasonable counterpoint. Inflation is another one.

On the other hand I think at this point most economies are in agreement that minimum wage increases above inflation are a necessity and that gig economy workers need some of that protection as well given we don't have a well stablished legal framework for them. Because this is gig work, it doesn't make sense to speak of layoffs. But one could expect a price increase passed on to consumers, which could lead to lower demand, therefore a risk of lower income for workers long-term; but it's factored in and it's a good experiment on the trade-off.

this post was submitted on 17 Nov 2023
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