Jay Newton: Raising the minimum wage is good for business

To The Daily Sun,

A living minimum wage is good for business and the people of New Hampshire.

If the minimum wage had kept pace with U.S. worker productivity, it would be more than $24 per hour. NH, not having its own minimum wage, must uphold the federal law of $7.25 per hour. Recent studies show that even $15 per hour is not enough for a family of four with both adults working.

One argument for NH having no minimum wage is to make us a “business-friendly” state. Low wages can attract businesses looking to limit their labor costs.

Unfortunately when people make so little they cannot afford the basics, they don’t want to live or work here. This is one of the reasons NH dropped 12 places from 25th to 37th in the “Top States for Business” reported by CNBC.

The minimum wage is an example of where government intervention is a good idea. Without it employers would be paying even less. Free enterprise is great but companies are tempted to reduce labor costs to maximize profits. They need to be required to pay a living wage because when they pay less, families suffer and we end up helping those families through government support programs which increases taxes for all of us.

A minimum wage is good for business because every company has the same labor cost. Companies need to innovate to offer a better price or product which makes them stronger.

Contrary to Republican disinformation, when the minimum wage is raised, most companies find they save money. Employees feel more appreciated and are more loyal, reducing workforce turnover.

Let Gov. Chris Sununu know we need a minimum wage that is more than $15 per hour for all NH workers.

Jay Newton

Gilford