The 2010 Minimum Wage: What it Means For You

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The 2010 minimum wage is emerging as a midterm election issue. Connecticut GOP U.S. Senate candidate Linda McMahon put that in play by recommending the nation review it. In her state it's $8.25. Now, the 2010 minimum wage is an issue for Tea Party members such as Alaska's Joe Miller who's running for the U.S. Senate.

What does the 2010 minimum wage mean for you workers? Well, it could function as a disincentive to job creation since it locks employers into a fixed salary cost. On the other hand, it also functions as a type of economic stimulus since it increases the amount of money workers can spend and pay taxes on. For workers who are hired "off the books" it has no meaning.

The way to bypass the minimum wage issue is to develop skills or a unique kind of market space for what you can sell to employers. Such an approach allows you to negotiate your compensation from a position of strength. This is being called "blue ocean strategy." Here is more about that.


Next: Four Arguments For Raising the National Minimum Wage >>

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