Word: hiked
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...trade practices of countries like Japan that allegedly maintain numerous barriers against imports. But what action to take, if any, is largely left up to the President. The legislation no longer contains the highly protectionist amendment proposed by Representative Richard Gephardt, which would have forced the White House to hike tariffs or take other retaliatory measures against nations that did not reduce excessive trade surpluses with...
Minor- league owners score grand- slam returns. -- Pressure for a minimum- wage hike. -- Japan' s growing investment in Australia...
Business groups contend that the increased labor costs from any hike jeopardize hundreds of thousands of jobs. Union leaders counter that such claims are exaggerated. Economists are of no help in resolving the dispute. Beryl Sprinkel, chairman of the Council of Economic Advisers, says a $4.65 base rate would eliminate 600,000 jobs, cost consumers $13 billion more a year and add $2 billion to the deficit. The Congressional Budget Office has projected that 500,000 jobs would be lost. But Economist F. Gerard Adams of the University of Pennsylvania argues that a higher minimum wage would cost no more...
...require more education and skill than ever before. As a result, the number of minimum-wage earners has dropped from 12.8% of all hourly workers in 1981 to 7.9% in 1987. Yet these jobs represent stepping-stones for many people trying to climb out of the economic underclass. A hike in the minimum wage, many economists point out, would eliminate opportunities for people who are less well educated or just entering the job market. Low-paying training jobs that provide work experience and employment skills will be the first to go, contends Marvin Kosters, director of economic policy studies...
...next three years, bringing the rate to $4.55 by 1991. Supporters of the legislation contend that workers need the boost to keep up with rising prices, since the minimum wage has lost 22% of its purchasing power since the last increase in 1981. Opponents, including business lobbyists, believe the hike will hurt labor-intensive enterprises and set off an inflationary spiral...