Will minimum wage laws work here?

[TerryPower]

If u increase food court cleaner wage, they get more money to buy food.

But the food court operation cost also increase, so they increase rental, which lead to stall owner increase food price.

Cleaner in the end got more money to buy food but the food become more expensive. So whats the pt...

to add on, once things become more expensive, people spend less

then no need to hire so many staffs which used to be cheap but now expensive

since expensive, so better don't hire

so, end up high unemployment rate

now, i know why US unemployment rate so high

 

[occifer]

FWs need to pay levy, need to provide accommodations. If after adding those to their pay, u think it's 1.3k?

If u hire local at 1.3k after cpf its about 1.5k and it's lower if the person is above 55 years old.

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This min wage should be for locals only.

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[fox1]

Like*

And yes, some businesses will earn less money with minimum wage but so wat.

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What to do?
Companies earn less money, so they spend less in hiring lor.
Just cut down on headcount to break even.
No problem.

 

[tanchinkoo]

Pay minimum wage and Pay market rate
What difference ar ?

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[satayxp]

Say first i really like WP

But If we increase minimum wage, doesn’t it mean that if we go macs and all, the price will also increase?

It appears to me the people who really will benefit are people who go JB or batam to spend, or those FT and S pass workers.

there r many facets to it

one of it is it cld force employers n biz to raise productivity.. indirectly result in lesser reliance on cheap foreign labour which btw is unsustainable

 

[Ghostleader5]

Say first i really like WP

But If we increase minimum wage, doesn’t it mean that if we go macs and all, the price will also increase?

It appears to me the people who really will benefit are people who go JB or batam to spend, or those FT and S pass workers.

People who work at macdonald full- time earn more than minimum wage rah.

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[FD3S83]

This min wage should be for locals only.

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Yes exactly. My point is, after adding in costs to hire foreigners like levied and accomodations, is it more than 1.3k? And if it is, why are local lesser paid?

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[occifer]

What to do?
Companies earn less money, so they spend less in hiring lor.
Just cut down on headcount to break even.
No problem.

Oh pls.
At the end of the day, company profits will be less. That will go to the low wage people.
If they cut people and can still produce the same output, then those people should have been gone from the get go.

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[occifer]

Pay minimum wage and Pay market rate
What difference ar ?

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Min wage can be exploitative like 1k for a cleaner wtf....

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[TerryPower]

Like*

And yes, some businesses will earn less money with minimum wage but so wat.

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humans are greedy. you think those rich people will just willingly earn less?

they will increase price to earn back the same profit

or even hire less because last time cheap cheap, hire 10. now, hire 6 instead. the 4 jobless, how?

 

[satayxp]

Pay minimum wage and Pay market rate
What difference ar ?

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mkt rate no longer makes sense when the mkt is unnaturally distorted due to distortion in demand supply of labour
for e.g. opening the floodgates to cheap foreign labour distorts the mkt n see wages plummeting

 

[occifer]

humans are greedy. you think those rich people will just willingly earn less?

they will increase price to earn back the same profit

or even hire less because last time cheap cheap, hire 10. now, hire 6 instead. the 4 jobless, how?

There will be a limit to wat profits they can earn with higher min wage cost.

Anyways, companies that pay minimum wage are not ***** companies we want anyways lol.
Such low tech simple company bosses should not earn much.


Majority of sinkies wont be affected by this i believe.

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[Chiong]

WP should suggest minimum needs

just provide food and lodgings for workers can liao

 

[TerryPower]

This min wage should be for locals only.

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also doesn't work

then companies more reason to hire foreigners instead

 

[RedEyesFan]

WP should suggest minimum needs

just provide food and lodgings for workers can liao

And transportation.

 

[fox1]

Oh pls.
At the end of the day, company profits will be less. That will go to the low wage people.
If they cut people and can still produce the same output, then those people should have been gone from the get go.

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This is true.
Less profit means less cashflow.
Those get cut only add to unemployment, company no problem.

 

[Chiong]

And transportation.

lodgings provided
no need for you to go anywhere

 

[occifer]

also doesn't work

then companies more reason to hire foreigners instead

Set it at a low amount.
With the proper foreigner levy, people will hire locals over foreigners at min wage.

Because foreigners + levy = higher than locals at min wage.

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[occifer]

also doesn't work

then companies more reason to hire foreigners instead

Actually this is easily do-able la.
I suspect that our people in power would benefit personally if no min wage, so, they dont want it....

I mean those ministers arent poor lol.
They probably have stocks, etc assets.

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[Chrysanthemum Tea]

theres a thread with 1000 posts that explains everything about min. wage, can slowly go read to understand

mods can merge or close this thread?