Seeks to overcome wage stagnation
(Knoxville, TN) Renee Hoyos is calling for an increase in the minimum wage to assist those in the labor force who continue to suffer from wage stagnation.
This weekend we celebrate Labor Day and the contributions of American workers to our economic prosperity. The minimum wage was last increased in 2009. Since then, the economic recovery has been steady, to the point that we are seeing more than three percent growth in quarterly economic reports. Yet, wage stagnation continues to be a problem. Lower income workers are not seeing all the benefits of this economy.
“It is time to raise the minimum wage from the current $7.25/hour. But, this Congress has not even taken steps to consider legislation to accomplish an increase. And, in Tennessee, we depend on a federal increase because there is no state minimum,” Hoyos pointed out.
Congress should act immediately to increase the wage approximately $1/year during a three-year period to just more than $10/hour, which is the living wage in the Knox County area according to the MIT Department of Urban Studies and Planning living wage calculator.
“This type of increase gives businesses time to adjust and lifts wages for everyone. A wise move after a lengthy economic recovery,” added Hoyos.
Where does Tim Burchett stand on increasing the minimum wage?