Employers are all for raising minimum wage for Rhode Island jobs
Posted on September 25, 2014
A recent survey from Careerbuilder found that many employers are in favor of raising the minimum wage for Rhode Island jobs, among other locations.
Employers surveyed think only 7 percent think a minimum wage of $15 per hour or more would be fair. Nine percent don’t think there should be a set minimum wage. Nearly half (48 percent) think a fair minimum wage should be set between $10 and $14 per hour.
- $7.25 per hour (current federal minimum): 8 percent
- $8.00 or $9.00 per hour: 29 percent
- $10.00 per hour: 29 percent
- $11.00-$14.00 per hour: 19 percent
- $15.00 or more per hour: 7 percent
- No set minimum wage: 9 percent
A majority say a higher minimum wage helps the economy and helps them retain employees.
- It can improve the standard of living: 74 percent
- It can have a positive effect on employee retention: 58 percent
- It can help bolster economy: 55 percent
- It can increase consumer spending: 53 percent
- Employees may be more productive/deliver higher quality work: 48 percent
- It can afford workers the opportunity to pursue more training or education: 39 percent
Employers who do not support a minimum wage increase in their state cite several reasons related to negative effects it may have on their business.
- It can cause employers to hire less people: 66 percent
- It can cause issues for small businesses struggling to get by: 65 percent
- It can cause hikes in prices to offset labor costs: 62 percent
- It can mean potential layoffs: 50 percent
- It can lead to increased use of automation as a replacement for workers: 32 percent
- Wages for higher-level workers may suffer and create retention issues: 29 percent