The Minimum Wage Increase in Maine Is a Good Thing, Right?
So as of yesterday, January 1, 2020, start of the new year, the minimum wage in the state of Maine has risen.
Now, if you live outside of Portland, this seems like a pretty good thing (because the rent is too high in the city.)
Why do you ask? The answer is because even making just one more dollar per hour can be excellent padding to your monthly budget.
When I got my first job as a teenager in Connecticut, the minimum wage was $6.50 per hour, and you could not tell me I wasn't 'ballin', yet I could not afford to buy/insure a vehicle or live in my own house.
Just a few years later, here we are at $12 dollars per hour, and the main argument for the raising of the wage was "people can not live on that amount of money," which is correct; nonetheless, most items will go up in price to match the increase.
Gas, utilities, rent, the cost of food are just some examples.
These trends lead to a valid question that we in the working poor and middle class should be asking, is raising the wage in a market that will correct itself to match just lip service to make people think that we as a society are progressing?
I do not have the answer; I'm no economist, just a concerned citizen trying to get ahead.
What do you think of the salary increase?