Biden: Raising minimum wage is ‘good for business’
Did you know that women are still paid less than men?
Miami Times staff report | 4/3/2014, 9 a.m.
Vice President Joe Biden believes that raising the federal minimum wage is good for business.
Biden is delivering the White House’s weekly radio and Internet address while President Barack Obama travels the country.
Biden is urging Congress to pass Obama’s proposed, wage hike to $10.10 per hour.
The minimum wage in Florida is currently $7.93 per hour, with a minimum wage of at least $4.91 per hour for tipped employees effective Jan. 1.
Biden says fair wages generate worker loyalty, leading to higher productivity and less turnover. He says it boosts the economy by generating $19 billion in additional income for the neediest people.
According to floridajobs.org the minimum wage rate is recalculated yearly on September 30, based on the Consumer Price Index.
Biden says raising the minimum wage also helps women, who earn less on average than their male counterparts.
On average, full-time working women earn just 77 cents for every dollar a man earns, according to whitehouse.gov. Women make up nearly half the workforce, bring home less money each day which means that they have less for everyday needs of their families, over a lifetime of work, for less savings for retirement.
In the Republican address, Rep. Jackie Walorski of Indiana is urging Obama to support the VA Management Accountability Act. She says it’s a step in the right direction for helping veterans.