Wage Adjustment Quotes

Under the guise of fighting inflation, COLA actually creates it.

People can change the volume, the location and the composition of their income, and they can do so in response to changes in government policies.

I will advocate moving the Illinois minimum wage back to the national minimum wage.

Many unions have contracts with employers that are based on a multiple of the prevailing minimum wage. If the minimum wage goes up, union salaries go up by a similar percentage.

Unemployment is 'involuntary' when the price is above its market clearing level. Workers are unemployed because jobs are not available at the prevailing wages, period. The only recourse is to either expand the number of jobs or somehow lower the wage.

Although most Americans apparently loathe inflation, Yale economists have argued that a little inflation may be necessary to grease the wheels of the labor market and enable efficiency-enhancing changes in relative pay to occur without requiring nominal wage cuts by workers.

A study of the history of wages back through the years indicates clearly that when the cost-of-living rises appreciably wages have shortly been adjusted upward also.

Minimum wage law is the 'People's Fed.' Tie minimum wage to money supply. If there is pushback against this idea, then shut down the Fed and its ability to distort the economy, penalizing labor, or make the Fed's distortions available to all businesses and all workers.

And so we said to General Motors that the solution had to be a first year increase, which had to be sizeable because we had to catch up with the lost position as against the cost of living and we had to make some progress.

The value of the minimum wage shouldn't be eroded, and it has been.

I first came into the labor force in 1941 when the minimum wage was 40 cents an hour, and that was my first job. And each time that we've tried to boost the lower level of salary for the most underpaid workers, there have been predictions of catastrophe. But each time, in [m]y opinion, the change has helped our Nation and its economic strength.

It [the government] has failed to make the proper adjustments so that the invention of NEW MACHINERY instead of throwing workers out of employment, will only shorten the hours of work for all labor.

I think the minimum wage outght to keep pace with inflation. I think the minimum wage is a good thing to have in our country and I think it ought to be updated.

Blankets, that used to sell for $6, are now $25 per pair; and sheets are selling for $15 per pair, which might have been had a year ago for $4 …. Wood is selling at $16 per cord, and coal at $9 per load. How can we live here, unless our salaries are increased? The matter is under consideration by Congress, and we hope for favorable action. -

It has now been over 7 years since Congress last raised the minimum wage to its current level of $5.15 per hour. Since that last increase, Congress's failure to adjust the wage for inflation has reduced the purchasing power of the minimum wage to record low levels.

I think the minimum wage ought to keep pace with inflation.

If I were in charge of the government, I would index the minimum wage to inflation, so that way, everybody knows what they can count on.

Giving Northern Europe a veto over Southern Europe's budgets will not hold a monetary union together. The euro zone will continue to need the weaker countries to stomach decades of high unemployment to grind down wages.

The minimum wage was due for an increase, but it was important that we offset its cost to small businesses.

The problem is that, in a world of floating exchange rates, as Italy was before the euro, if one country is subjected to a shock which requires it to cut wages, it cannot do so with a modern kind of control and regulation system. It is much easier to do it by letting the exchange rate change. Only one price has to change, instead of many.

I think we've got to be competitive here in Illinois. It's critical we're competitive. We're hurting our economy by having the minimum wage above the national. We've got to move back to the national.

Wage concessions are difficult to quantify, since their magnitude depends on many operating variables.

Salaries and wages must reflect the reality of the enterprise's economic performance; deviations from the planned performance should be reflected in pay.

No one should be so naive as to think that wages among organized groups will not be increased, under pressure if necessary, to make up for increases in the cost-of-living, nor should anyone ordinarily object to such adjustments.

The allowance under the name of drink money is hereafter to be discontinued, and in place of it three dollars extra wages per month will be allowed No workman can be permitted to bring spirituous liquors into the Mint. Any workman who shall be found intoxicated within the Mint must be reported to the Director, in order that he may be discharged.