Is $14 per hour to high for a minimum wage?

Question

The minimum wage in my country (Ireland) is approximately $14 per hour (€8.65).

It is being suggested that we cut it by €1 per hour given today's harsher economic climate.

Answer 1

you cant really compare exchange rates... it doesnt mean a thing unless you live in ireland, but are paid in dollars, or live in american and are paid in euro.

Answer 2

um-yeah!!! But than if it went to that--those of us that are paid by the hour but make more than minimum wage- ours would go up faster and higher

Answer 3

Minimum wage is relevant to the country you live in, or in the US, the state you live in since some states set higher than federal law.  Which sets it at $5.85.  Consider that gas is now $4.29 a gallon and you are going to get people who no longer can afford to get to work.

If gas where you are is at or near the per gallon amount of pay for one hour of work, then you will have problems too, trying to live on less.

Lowering the mininmum wage only affects the poorer working class, the boys at the top can continue to rake it in without thinking twice about it.  There is, after all, no maximum wage for them.

Here in the US, the top executives make 4000x the amount of their average worker, I've heard in Europe they make 400x the amount of their average worker.

That makes a difference too.

Answer 4

I do believe that is way too high, if its the US..... right now our economy is hurting and big have to's like that would kill all the other businesses... overseas I say thats about right... I spent time in Germany and the cost of living was horrendous....

Answer 5

No its pretty good, the minium wage per hour Australia is a lot higher than $14 an hour plus your paid shift and load penalities on top of the hourly rate. We have a good strong economy and dollar, standard of living and heaps of jobs. The only problem is, there are not enough skilled workers or people to fill all the jobs and employers are now paying a lot more than the usual wages to get or keep workers.

Answer 6

That is way too high and would jeopardize small business owners.  It would also deter people from building human capital to flipping burgers instead.

It would create huge amounts of inflation and minimum wage costs would be pushed onto consumers. .

Answer 7

Minimum wage is a hotly debated item... both sides tend to have relatively good arguments, but the side against high minimums usually wins out based on their economic evidence.  I can't say what's right for Ireland since I don't have the data in front of me, but I can promise that in the US, a sudden increase to $14 per hour from 5.65 would wreck everything in a hurry.