> If minimum wage were $15, they could find another job that paid their basic living expenses.
Why is this necessarily true? Couldn't it be the case that minimum wage were $15 but they still couldn't find any other job?
Why is this necessarily true? Couldn't it be the case that minimum wage were $15 but they still couldn't find any other job?
Edit: I may have misspoken when I said "surplus". What I was referring to is the very low unemployment rate we currently have, despite large numbers of people - with "jobs" - continuing to live in near-poverty.
No, we don't. An actual job is what happens when the willingness to pay for labor connects with the willingness to provide it for pay.
What you are seem to be referring to (additional willingness to purchase labor at prices below that that people are willing to accept) is not a surplus, it is is the normal condition of demand (and a parallel thing exists normally with supply, where there are people willing to provide something beyond what is currently being transacted in the market, but at higher-than-market prices.)
> Why is this necessarily true?
It costs money to take a surveying class, or buy tools to practice your skills. It also takes having money saved so if there is a crisis, car repairs, etc you don’t have to constantly work overtime to keep your bills paid.
Please reach out to a friend who is making less than a “living wage” in their area and ask them about career development and what they need. I appreciate your question.