Is it just me or are young adults under the age of 25 just plain lazy?

I totally agree, jobs don’t pay enough. For the most part, they never have. Right now there’s a shortage of Workers. Only way for pay to keep from increasing is by causing a recession. Less Jobs, higher unemployment. The current shortage of Workers isn’t going away anytime soon. There’s actually a lot more opportunities available now than the current generation realizes. Constant News stories have brainwashed many into self defeating thinking. They’re convinced the present and future are bleak, and the past was much better. They have no idea how bad things have been in the past, and don’t realize things go in cycles, nothing lasts forever. It’s 3-4 steps forward, during an expansion, and 1-2 steps back during a recession. The latter must happen, to insure the former. We’ve had a long run at low inflation, low interest rates, and slow steady overall growth, despite a major Banking crash in 09. Not everyone recouped from 09. That was a bad ending to a slow death prolonged recession, propped up with easy money. Especially if they were over 60 yrs old at the time. A few years seems like forever when you’re young. Overall it’s always been tough to earn a living. My daughter was worried about the future, when Starting college. She wondered if it was worth it, since the economy was so terrible. I told her, don’t worry, by the time you graduate, the economy will probably be strong again. Sure enough. Last 5 yrs. since graduating she’s made $28+ an hr. She’s on her 3 rd job in 5 yrs. Finally got the one she’s been wanting. $34 hr. 2 miles from her apartment. Last week, she mentioned that the futures not looking very good. High home prices, inflation, etc. Her future looks great to me. I know things go up and down. Prices of homes, interest rates and wages are overall relevant. The current tough times, seem like they’ll last forever. The good times pass by quickly. I can relate to my Grandparents in a sense, living through the debt/ Banking crisis of 09, seeing it all unfold, and the pain it caused many working folks, including myself. I can survive anything. Bottom line is we did survive. Nothing lasts forever. Without some bad economic times, there wouldn’t be any good times. They go together.

 

You might want to read up on the history of the FLSA. The minimum wage was designed as a living wage.

Also, where are teachers making $90,000 + a year?

 

FLSA what’s that? If the minimum wage was designed to be a living wage, it would be tied to the inflation rate. I’d say they designed it with a major flaw. It’s nothing more than a Political football as is. Causing division between the working classes. It stays the same for years. In the 90’s all the same old tired debates were fought out. Mc Donald’s claimed they would have to raise prices, and lay off a lot of workers. Blah Blah Blah. The increase finally passed. Mc Donald’s went on to create the $1.00 menu, and record profits. The fact is, it takes a certain amount of money to live. A minimum wage is needed IMO, especially in tough times. More so now, since most available jobs are in the service Industry. It should be tied to the inflation rate. I thing all wages would rise along with it. Instead it’s a wedge issue, waged ( pun intended ) by Politicians who vote themselves raises, usually in the last 5 minutes of session, after the cameras are all gone.

 

There were carveouts in the original that allowed you to employ apprentices/learners and handicapped at lower rates, but the min wage was therefore to be the workmans wage.

Instituted in 1938 at .25/hr, 1939 to 1945 at .30, then at .40 in 1945

If we ignore anything but inflation (bearing in mind that this method actually ignores many real costs, it is eclusively a measure of cpi and monetary supply)

1938 - .25 to 2021 $4.80
1939 - .30 to 2021 $5.85
1945 - .40 to 2021 $6.02

The flsa also set a work week at 40 hrs, more was considered overtime.

So lets say the average 1945 worker worked 50 weeks at 40 hours.
Thats 800$ .40/hr

Scaled for inflation, thats a wage in 2021 of 12,043.

This is where the arguement that it wasnt supposed to be lived on comes in. Its horribly innaccurate because REAL inflation and costs are much higher.

The problem is in rent/medical/other costs. For instance In 1945, the cities were only barely electrified, in the 80s, only the suburbs really had ac.

But lets assume that you shouldnt be able to live on min wage, okay, then what SHOULD you be able to live on, im pretty sure we're all in agreement that 12.5k a year isnt even really possible these days. So is 2x that (full time min wage with say a 2nd earner) realistic?

College, 1945, 400$ for HARVARD.
College, 2021, 72,000$
Remember that inflation calculation? If we just used that, a year at harbard today should only cost 6000$, its 12x that... on that metric, assuming college is a metric for inflation, .40/hr should actually be 72$/ hour min wage



But lets say college is a joke (it is, dont get me wrong, but its an out of control cost to a generation that was told that it was neccessary)

Is it so hard of a leap to say that there just MAYBE have been other things that have driven costs today up far further than they "should be", that min wage hasnt kept pace with REAL inflation?

 

Flsa
Fair labor standards act of 1938
1. Established 40 day workweek
2. Outlawed child labor
3. Established min wage

Those are the 3 things more or less

 

I don’t know anyone over the age of 19 who makes minimum wage.

 

Less than 3% of the workforce.

 

Right now there's a pretty big shortage of skilled labour. No college required and you'd start out making about $35-40k a year and only go up from there. Only have to attend training (most cases paid for) for 8 weeks a year for the first 3-4 years. At full rate, these are $80k+ a year jobs. Most places will have benefits and possibly even a pension plan. Where's the lineup of people for these jobs?

 

It's still a huge influence on how people view their wages. Say you're making $15/h. You'd say it's pretty good because minimum wage is $12 or so. Then what happens if minimum wage comes up to $15? Most businesses will not just keep paying their workers the same because they could just go somewhere else and work less for the same.

 

Based on what you're saying, I'm not sure if I should argue or agree. Could you boil it down some? Are you saying since the $12 dollar guy now gets $15, the $15 dollar guy now needs $18? Because I agree with that.