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from the so-EVERY-Amazon-employee-gets-a-raise? dept.
Amazon announces $15 minimum wage for all US employees
Amazon is raising its minimum wage to $15 an hour for all US employees. The change takes effect November 1 and applies to full-time, part-time and temporary workers. Amazon says the $15 minimum wage will benefit more than 250,000 Amazon employees, plus 100,000 seasonal workers.
"We listened to our critics, thought hard about what we wanted to do, and decided we want to lead," said Jeff Bezos, Amazon's founder and CEO. "We're excited about this change and encourage our competitors and other large employers to join us."
The change applies to Whole Foods and all other subsidiary employees.
Amazon also said its public policy team will begin lobbying for an increase in the federal minimum wage, which has been $7.25 an hour since 2009.
See also: Bernie Sanders praises Jeff Bezos on Amazon $15 minimum wage
Previously: 'Stop BEZOS' Bill to tax Amazon for Underpaying Workers
Related: Injured Amazon Worker Describes High-Tech Dystopia Inside Texas Warehouse
(Score: 0) by Anonymous Coward on Wednesday October 03 2018, @10:00AM (2 children)
1914:
Car: $500/($0.625/h) = 800 h
House: $3500/($0.625/h) = 5600 h
Milk: $.32/($0.625/h) = 0.064 h = 32 min 45 s
Bread: $.06/($0.625/h) = 0.0012 h = 5min 45 s
Gas: $.12/($0.625/h) = 0.024 h = 11min 30s
Using the correct values is not far off and ignores things like a 1914 car could be put together in an hour buy a couple guys (watch youtub videos of people rebuilding model Ts) whwereas a modern car has dozens of safety systems and computers.A 1914 house is nothing like a modern house and was 3x smaller.
(Score: 1, Insightful) by Anonymous Coward on Wednesday October 03 2018, @12:07PM (1 child)
Yay! The distributive property works.
The analysis would be much more insightful if actual 2018 costs were used.
Ex 30k average car cost, 250k average house cost, etc. Would be useful to normalize somehow.
(Score: 0) by Anonymous Coward on Wednesday October 03 2018, @12:49PM
Hard to make comparisons with everything because a modern house might be closer to a 1914 mansion. A 2018 car is far closer to a spacecraft than a model T, but food...
Milk: $3.16/($15/h) = 12 minutes (2018) (https://www.statista.com/statistics/236854/retail-price-of-milk-in-the-united-states/)
Bread: $1.51/($15/h) = 6 minutes(2018) (https://costaide.com/loaf-bread-cost/)
Gas: $2.90/($15/h) = 12 min (2018)(http://www.statemaster.com/graph/ene_gas_pri_ave_reg-energy-gas-price-average-regular)
As per ramik above
Milk: $.32 / 0.625 = 31 minutes (1914)
Bread: $.06 / 0.625 = 5.76 minutes (1914)
Gas: $.12 / 0.625 = 11.52 minutes (1914)
So bread and gas are the same, milk is 3x cheaper.
If you do want to make some sort of comparison, here is a brand new chevy spark for $15k, so ~1,000 hours (2018) vs 800hrs (1914), although a better comparison would be between any of the hundreds of thousands of used cars on craigslist that can be purchased for maybe $5000 (300hrs). Still unfair because a 6 year old used car in 2018 is still >> new car in 2014.