I cannot relate to the figures because our currency is not in dollars. But I can relate to the concept of minimum wage. It is ironic that most employees do not favor the raise in minimum wage because we all know that it will only give reason for the businesses to raise the prices of goods and services. What normally happens when the minimum wage is increased is that minimum wage earners would enjoy the increase in a matter of months. But within a year, the cost of living catches up with his new salary. What the ordinary employees want here is a reduction of fare for public transportation. Instead of raising the wage to favor the workers, lowering the cost of transportation has a direct effect on them because they can feel the price rollback.
I'm sure if the government doubles the minimum wage our social security checks will also double, right? And if you are already making $15 an hour and all the young folks in your company get a raise up to $15 an hour the company will give you an equal raise, right?
Locally as was catching the bus. Here is the pay scale for McDonalds. http://www.glassdoor.com/Hourly-Pay/McDonald-s-Hourly-Pay-E432.htm I saw a poster outside a McDonalds that's across of the bus stop I was waiting at and it said they are hiring starting wage was eight something. I worked for minimum wage too. As time goes by you get raises and more benefits. The employer rewards loyalty and longevity. COLA is so needed when you get a job anywhere.