The article looks at a different aspect of cheap labor, it looks through the companies eyes and protrays their feelings towards hourly wages.
Analysis:
In the UK, companies are threatening employees with job losses in order to put off raising the minimum wage by 30 cents an hour. the overall cost to the companies when this wage is raised will be an estmiated 2.7billion in two years which puts them at a significant loss. There is no doubt that companies in the long run could still see profits. Tesco for example makes a 2.35bn profit which went up 17% from last year.
Quote:
"Every year members of the British Retail Consortium predict that an increase in the minimum wage will cause massive job losses and they are proven wrong," said TUC chief Brendan Barber.
Citation:
anon, "Minimum wage 'causing job losses' ". BBC. 17/10/2009
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