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Economics 101 revisited

The British Retail Consortium is arguing that the government's minimum wage has led to 78,000 job losses. While the numbers would always be open to debate, setting a wage above the market level was always going to have this result.

As the BRC's DG notes, "Retailers tell us they are being expected to find £2.7bn extra for wages over just two years," said BRC director general Kevin Hawkins. He warned that with rental, energy and other charges "shooting up" some employers are looking to cut staffing costs".

Not that the TUC etc will concede the point, but then again it is there to serve the interests of its members, not those who might like the opportunity to become members....
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Blogger Rigger Mortice said... 9:19 am

nice tagline on the TUC.I remember temping for years when I was younger,working two days and then getting laid off,or getting laid off after three months of graft shifting boxes in a warehouse.no holiday,no sick pay and being taunted by gaffers who were complete cunts and thought it was funny to tell blokes with kids just before christmas that they were getting laid off that day as a joke.

where were the unions,fucking nowhere.when i was on the post,the union was off on the jolly in Blackpool discussing diversity issues whilst it's membership grafted.

sorry to go on .the point.you only ever see Unions where they can live off the back of working people.they create and protect huge inefficiencies in the name of working class solidarity.the only place where pay increses are above inflation are the public sector.where is the only good pension.?who's mopre working class,a nurse on £23,000 pa or a call centre worker?who's got union representation?

those fuckers are in it for themselves.  

Blogger Rigger Mortice said... 9:27 am

oh and the economy's doomed.  

Blogger The Daily Pundit said... 9:34 am

The minimum wage is about the only decent thing this lot have done.  

Blogger Croydonian said... 10:35 am

Thanks for that Rigger.

A couple of anecdotes:

Way back lost in the mists of time, I had completed Solicitors Finals, and was vaguely looking around for a traineeship. The Law Society, in its infinite wisdom, had set a generous minimum wage for trainees whihc meant that there were nothing like enough trainee positions to cater for all of the people leavig law school. I was one of the unfortunate ones, and actually argued the case with them over minimums, although I might as well have been swimming through glue.

Also WBLITMOF, I had a weekend job working in an antiques shop for one of my old primary school teachers, a conviction socialist (but all round very good egg). She needed someone to help out, but because of the nature of the business was in no position to pay anything like a legal wage (NI contributions etc - this was before the '97 Red Terror). I was happy with that, and remain convinced that there is nothing wrong with economic acts between consenting parties.  

Anonymous Anonymous said... 10:53 am

Actually the dear old TUC (actually "impenetrably stupid" is a better description) are plugging unlimited immigration, which as the dear old FT recently pointed out, is there to keep down wages.
But then, when you look at how the miners, ship- & car -builders destroyed their employers and then were amazed to find out they were on the "rock-n-roll", it's not surprising.

Croydon Library 21.9 11:45  

Blogger The Hitch said... 11:02 am

Don't know if you live in london rigger, I was listening to heart FM the other night (a sure sign of middle age) and an advert came on, it consisted of children's voices saying things like
"im the head of diversity for camden council on 65 k a year"

"im a case worker for thameside council on 45k a year"

turns out it was an advert for the guardian society section, i nearly crashed the car due to having an apoplectic fit  

Blogger Croydonian said... 11:45 am

Suttonian - good to see you again, and a good point.

Peter - way back I remmber someone arguing that the SWP ought to sell copies of The Tatler to the toiling masses rather than the Socialist Worker if they wanted to spark a revolution, likewise delivering a copy of the Guardian's 'Society' section to every house in the land could lead to a Tory landslide...  

Blogger Rigger Mortice said... 11:51 am

I'm with you on that one Peter,

the good thing is that the country's finances are fucked.it's great watching lefty bastards lay off all the money grubbing cronies they've taken on in the last seven years.

back to my youth.at the time it irked me that companies would never take people on direct and would instead hire temps and after 6 months take them on.Why?they still do.why?

cos of the stupid EU laws designed to protect inefficient and lazy workers from being sacked.if they freed up the labour market so the shit can be sacked we'd all be better off.local govt would dsicover a way of operating heretofore unknown!!good workers would get kept on it's no coincidence.

recessions are bad for people but the general public and the govt have bought this one on tehmselves.Watch this space.
1 US hosuing inventory at highest level ever
2 cosumers in US UK spent up to the hilt
3 curretn account and fiscal deficits at record levels in US/UK
4 oil at $60 a barrell
5 inversion of yield curves in US/UK
6 2 million adults in Uk with £35000 of unsecured debt.

sorry being boring.have to prepare for the US open but my points stand


Blogger The Hitch said... 12:00 pm

I think coming here has brain washed me, I have actually got some matzo ball soup simmering,first time i have made it.
Many years ago my grandfaher used to take me to the Odean cinema to in manchester and aftertwards to a Jewish restaurant and by jewish I mean eastern european food, as far as I know that was the last of its kind, been closed for over 30 years, I would love to find a good one in london if anybody knows of one?  

Blogger Croydonian said... 12:11 pm

(Look into my eyes - you are feeling very, very sleepy)

I've been to Blooms in Golders Green, and it is nothing to write home about. The trouble with Ashkenazi Jewish cuisine is that it is very 'haimisch', that is very 'homey', and is best sampled in the home rather than out, as it is not the last word in culinary sophistication. I rather like gefilte fish, mind. Also, if you want to have a kashrut certificate, there has to be a rabbi on site, which cranks up the prices no end.

I believe there's a kosher chinese in GG.  

Blogger The Hitch said... 12:46 pm

well there is a halal chinese so why not kosher?
Rigger let us also not forget that Ford and GM are on the verge of bankruptcy,Dubya has run up more debt than all previous presodent COMBINED and 1/3 of Uk exports are VAT fraud, we are in for a very nasty crash and all that with many extra immigrant mouths to feed.  

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