By Maria Altman
St. Louis Public Radio, Dec 30, 2014
Missouri’s minimum wage will go up 15 cents as of New Year’s Day.
The increase from the current $7.50 to $7.65 is the result of a 2006 ballot referendum tying the state’s minimum wage to the Midwest Consumer Price Index. It’s the second 15 cent increase in as many years.
The Missouri Retailers Association lobbied against the initiative eight years ago. ...
Yet some business owners see a minimum wage hike as good for their businesses and good for the economy. Lew Prince, the co-owner of the record store Vintage Vinyl in the Delmar Loop, has been an outspoken supporter of a higher hourly wage. Prince said part-time employees at his store make more than $9 an hour, and full-time employees make more than $10.
"What we know is that the people who work for us have to make a living," Prince said. "They have to be able to live on what they make in order to be happy to work here, to be good employees, to treat my customers right."
The federal minimum wage
On Jan. 1, 29 states will have higher minimum wage rates than the federal level of $7.25. (Missouri is among nine states raising the wage because of indexing, while 18 others are going up because of ballot initiatives or legislative action.)
This year there was an effort in the Senate to raise the hourly minimum to $10.10, but it was staunchly opposed by Republicans. Prince was among business owners around the country who signed the Business For a Fair Minimum Wage pledge.
"I think it’s unfair for a human being to put in a 40 hour week and not be able to support themselves and their family," Prince said. "It’s really good for the economy and small business. When you hand someone $2 or $3 an hour, who’s only making $7.50, it goes right back into the economy." ...
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