Economic Trend Supports Raising the Minimum Wage

The news today is that consumer spending rose in August and it was driven by increases in income and wages. Ergo: continued economic recovery could be driven my raising the minimum wage.

Consumer spending in August rose 0.5 percent from the previous month after showing no gain in July, the Commerce Department reported Monday. It was the best result since spending also expanded 0.5 percent in June.

The acceleration in spending added to signs that the economy is sustaining strength in the current July-September quarter. Consumer spending accounts for about 70 percent of economic activity, and the lackluster showing in July had raised concerns about whether the economy would retain the momentum it built in the spring after a harsh winter.

Economists also said the stretch of solid gains in employment this year should help boost incomes.

“With incomes starting to rise a little faster, the outlook for consumer spending on everything, including housing, is brightening,” said Joel Naroff, chief economist at Naroff Economic Adivsors (sic).

Elect candidates in favor of a living minimum wage!


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6 thoughts on “Economic Trend Supports Raising the Minimum Wage

  1. So we have increased consumer spending and good employment news without living wage legislation. Why change directions if it is working?

    1. Living wages are already being raised with increasing frequency, except in WI, bar a notable recent request to do so by Barrett in Milwaukee. So for once I agree as several key examples, New York, Seattle, of expansion of raising the minimum wage is contributing to a better economic outlook and should continue with gusto. Hang around BB much more and you’ll be earning the label, “official liberal,” among your buddies. You’ll be out with the good news for your employees today then?

    2. The economy is making a much slower than hoped for but this clearly indicates that increasing wages has a direct impact on improving the economy.

  2. If your jargon is to be believed, my employees would be all dead. And since they are not dead, I will proceed knowing that the “living wage” nonsense pedaled by the left is just that.

    1. The OP, not my “jargon,” along with your first comment, stated income increases were driving actual and forecast better economic outlooks. Now you are reversing what you said above, where your stated that that trend shouldn’t change. So you are now against overall economic growth indicated in the OP?

      As your employees are not dead, thank goodness for that, how much of that can we attribute to your generous wage scale and how much of that is attributed to social services taking up any slack. Quite a statement to your current or potential employees, “work for me and you’ll be better than dead.”

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