Minimum Wage Raise Is No Worry For Business
By Lya Sorano
In Georgia, one of the reddest of the "Red States," one might expect an almost universal denouncement of the raise in the minimum wage. In fact, the opposite is true.
Business owners and managers I've spoken with aren't concerned. They're glad the minimum wage is going up because workers deserve it, and they believe it will help our local economy.
The $5.15 minimum wage has been in effect for a decade -- the longest period without a raise since the minimum was established in 1938. Georgians covered by the federal minimum wage saw their hourly pay rise to $5.85, on July 24, 2007. It will increase to $6.55 on July 24, 2008 and $7.25 on July 24, 2009.
Those increases are lower than they seem. The minimum wage has lagged so far behind inflation that even at $7.25 the minimum wage will still be lower than it was in 1956 when it was $7.65 in today's dollars.