Word: minimum
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...earn a handsome living - Newark has 264 municipal employees who make $100,000 or more. Plus, during 2007 and through the first eight months of 2008, Booker signed some 160 executive orders either giving an employee a pay raise or starting a new hire at a salary above the minimum set by civil-service guidelines. Some orders gave low-level workers a more livable wage. Others were a bit gratuitous. For example, one aide went from making $107,225 to $118,607. Isn't 107 grand enough to live on? The fiscal impact of these orders totaled about $1.5 million...
Other economists note, however, that because a majority of minimum-wage earners work in outsourcing-resistant service jobs, businesses will have a hard time handing out pink slips en masse. Researchers at the University of California at Berkeley found that after an 80-cent New Jersey minimum wage hike in 1992, employment in the state's fast-food restaurants rose slightly faster than in Pennsylvania, where the minimum wage did not change. (The law's effects showed up, instead, in prices: the tab at New Jersey fast-food restaurants grew about 4% faster than at greasy spoons in Pennsylvania.) Instead...
...result of the sparring, the value of the minimum wage in real dollar terms has risen and fallen on political tides, peaking in 1968 when an hour's pay bought nearly 5 gal. (19 L) of gas. By 2006, it paid for less than 2 gal. (8 L); meanwhile, some states raised their own standards (Washington mandates $8.55 an hour). Thirty-one states will have to increase their minimum wages as a result of the July 24 increase, while 19 states and Washington, D.C. already had a minimum wage of $7.25 or higher...
Supporters of the boost say it will help the country's neediest at a time when they have been falling further and further behind. From 1973 to 2007, as the minimum wage fell 22% in real dollars, domestic corporate profits jumped more than 50%-bloating the gap between rich and poor and fueling calls for a $10-an-hour "living wage" by 2010. For now, though, an extra 70 cents is as good as it gets...
...connections, barely capable of making Skype calls, for about $40 per month. "No one can [guarantee] there will be a 90% drop next year, but hopefully there will be," says Christopher Stork, senior researcher at Research ICT Africa, a technology analysis firm based in South Africa. "That's the minimum we would expect, but in the long term, it would be much, much cheaper...