| numonex said: Australia's Dollar to the American One Aussie dollar is 91 cents, a difference of 9 cents in the dollar, the Aussie minimum wage is at $15.00 per hour against the American minimum wage of $10.90 per hour. The economy is formulated when you divide the population by what we all earn, the more people living in Australia makes the averages go down. The Government's position is to keep inflation down, so the solution is to bribe us, give us $5000 bucks to have a baby. America has 300 million people we have 23 million. Inflation is caused from continued wage increases, the Australian dollar rises with each wage increase. How many more increases can be given? What happens when the minimum wage hits $25 dollars per hour? What are the effects to exports, jobs and interest rates as the Economy rises? Everything goes up and we lose business and jobs overseas because it's cheaper than it is to make here. |
This is the best apples to apples comparison available:
Australia minimum wage $15.00, Australia youth unemployment 24.2%
Canadian minimum wage ~$10.00, Canadian youth unemployment 15%
In the United States only 1.4% of employees over the age of 25 earn minimum wage, and you would find similar numbers in most western countries. When you increase the minimum wage too far in an attempt to provide a living wage the result is that youth unemployment increases; and the individuals who need experience the most are denied the opportunity to work.
